WASHINGTON — The government’s latest short-term forecast of energy prices offers some good news for natural gas users, but also projects that gasoline prices aren’t expected to drop in the near future.
Natural gas prices on the spot market at the Henry Hub in Louisiana are forecast to average $4.44 per thousand cubic feet this year, the U.S. Energy Information Administration said last week. That is down from last month’s projection of $5.17 per thousand cubic feet, because of new estimates that U.S. daily production of natural gas will be higher than previously expected, the agency says.
The corresponding average figure for last year was $4.07.
If you spend a lot of time driving to your laundry, or even offer a delivery service, you won’t be happy to hear that gasoline prices are likely to hover around $3 per gallon during this summer’s driving season.
“Average U.S. pump prices for regular gasoline are likely to exceed $3 per gallon at times during the driving season, and already exceed $3 per gallon in some areas,” the agency says.