Jan. 19, 2009: Energy Prices to Stay Low Through 2009, but Rise in 2010
The EIA projection is based on a 2 percent decline in U.S. gross domestic product in 2009, followed by a 2 percent increase in 2010 as the economy recovers. The expected recovery in 2010 will drive oil prices back up to an average of $54.50 per barrel, says EIA. That increase, in turn, will cause natural gas prices to average $6.63 per thousand cubic feet in 2010, while average retail prices for gasoline and diesel fuel will rise to $2.18 and $2.54 per gallon, respectively.
Publication date: 01/19/2009