WASHINGTON - With gasoline prices near record highs, the U.S. Department of Energy's (DOE's) Energy Information Administration (EIA) anticipates "a high likelihood" of additional price increases this spring, peaking at $1.83 per gallon for regular gasoline.
The EIA's "Short Term Energy Outlook" projects that summer gasoline prices will average $1.74 per gallon, which will be a record in nominal (non-inflation-adjusted) prices and the highest inflation-adjusted prices since 1985.