The EIA short-term outlook also expects gas prices to rise slightly to a $2.21 average next year.
1/15/2016
PMAA Weekly Review - On Tuesday, WTI crude oil price dropped below $30 a barrel. The drop takes us to lowest level since December 2003. This drop came among concerns that China's economic growth may slow and, therefore, lower demand for fuel. Morgan Stanley anticipates that the drop may lower Brent to $20 a barrel.
The Energy Information Administration (EIA) announced on Tuesday that gasoline prices are expected to stay in the $2-per-gallon range throughout the year, stating that the benchmark international oil price is projected to average $40 per barrel this year and $50 next year, with U.S. crude lagging $3 behind.
The EIA short-term outlook also expects gas prices to rise slightly to a $2.21 average next year. Natural gas and coal will see their share of U.S. power generation fall by two percent and one percent, respectively, and renewables' shares will rise one percent.
Colorado Wyoming Petroleum Marketers Association issued this content on 2016-01-15 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-15 18:07:03 UTC
Original Document: http://www.cwpma.org/news.php?id=616
