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U.S. ENERGY INFORMATION ADMINISTRATION WASHINGTON DC 20585
FOR IMMEDIATE RELEASE April 12, 2022
The U.S. Energy Information Administration (EIA) today published its April Short-Term Energy Outlook (STEO), with updated analysis of current dynamics in the energy sector. EIA also published its Summer Fuels Outlook, an annual supplement examining motor fuel prices through the U.S. summer driving season.
EIA’s forecasts remain highly uncertain, largely due to the variety of ways nations, energy producers, and the market could respond to Russia’s further invasion of Ukraine. Russia’s actions came at a time when global inventories of crude oil, natural gas, and coal were below average, contributing to continued price volatility and high prices.
High energy costs are reflected in U.S. gasoline and diesel prices, which hit multiyear highs in March. In the Summer Fuels Outlook, EIA forecasts that the average price of gasoline and the average price of diesel will be the highest inflation-adjusted prices since the summer of 2014.
EIA will continue to monitor market dynamics in the energy sector and publish updated information to support a fuller understanding of the evolving situation.
You can find a copy of our full Short-Term Energy Outlook on the EIA website.
EIA Press Contact: Chris Higginbotham, EIAMedia@eia.gov
