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January 28, 2013
Gasoline Prices Projected Lower but Natural Gas Costs on Way Up: EIA

WASHINGTON — Retail gas price expected to average $3.44 per gallon nationally in 2013

WASHINGTON — Falling crude oil prices will help continue to push the retail price of gasoline lower this year and next, according to this month’s Short-Term Energy Outlook from the U.S. Energy Information Administration (EIA).

EIA expects that falling crude prices will help national average regular gasoline retail prices fall from an average of $3.63 per gallon in 2012 to annual averages of $3.44 per gallon in 2013 and $3.34 per gallon in 2014.

Diesel fuel retail prices averaged $3.97 per gallon during 2012 and are forecast to fall to an average of $3.87 per gallon in 2013 and $3.78 per gallon in 2014.

Meanwhile, the cost of natural gas is expected to go up, EIA reports. Working inventories, which were at record-high levels in early November, ended 2012 at an estimated 3.5 trillion cubic feet (Tcf), slightly above the level at the same time the previous year.

EIA expects the Henry Hub natural gas spot price, which averaged $4 per million British thermal units (MMBtu) in 2011 and $2.75 per million MMBtu in 2012, to average $3.74 per MMBtu in 2013 and $3.90 per MMBtu in 2014.

February 23, 2012
EIA: Natural Gas Spot Price Lowest in 10 Years

WASHINGTON — January spot prices hit the lowest average monthly price in a decade

WASHINGTON — As working natural gas inventories continue to set new seasonal record highs amid an unusually warm winter, January spot prices hit the lowest average monthly price since 2002, according to the U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook report. The natural gas spot prices averaged $2.67 per MMBtu at the Henry Hub in January, down $0.50 per MMBtu from the December 2011 average, the report says.

Abundant storage levels, as well as ample supply, have contributed to the recent low prices, EIA says. The agency expects the Henry Hub spot price will begin to recover after this winter’s inventory draw season ends and will average $3.35 per MMBtu in 2012 and $4.07 per MMBtu in 2013, down $0.18 per MMBtu and $0.07 per MMBtu from last month’s Outlook, respectively.

EIA expects that natural gas consumption will average 68.5 billion cubic feet per day (Bcf/d) in 2012, an increase of 1.6 Bcf/d (2.4 percent) from 2011.

Regular-grade gasoline retail prices averaged $3.53 per gallon in 2011, according to the report, which was $0.74 per gallon (27 percent) higher than the 2010 average. EIA expects the regular-grade gasoline retail price to average $3.55 per gallon in 2012. Forecast regular-grade gasoline prices increase to an average $3.59 per gallon in 2013.

January 12, 2012
Natural Gas Spot Price Lower Thanks to Record-High Working Inventories

WASHINGTON — With natural gas working inventories remaining at record highs, the average 2012 Henry Hub spot price forecast stands at nearly 50 cents per MMBtu below the 2011 average price, according to the U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook report released Tuesday.

EIA’s average 2012 Henry Hub natural gas price forecast is $3.53 per MMBtu. The agency expects that spot prices will average $4.14 per MMBtu in 2013.

Inventories at the end of 2011 were an estimated 3.5 trillion cubic feet, about 12% above the same time the previous year.

Average household heating oil expenditures are expected to increase 4% this winter heating season (Oct. 1 to March 31) compared with last winter. In contrast, natural gas and propane expenditures are projected to decline by 7% and 1%, respectively, and electricity expenditures are 2% lower than last winter’s levels.

EIA expects regular-grade gasoline retail prices to average $3.48 per gallon this year, 4 cents per gallon lower than 2011, and $3.55 per gallon in 2013.

December 15, 2011
Natural Gas Spot Prices Expected to Continue Decline

WASHINGTON — Natural gas working inventories ended November at a record high for that date, about 1% above last year, and the Henry Hub spot price for natural gas averages $4.02 per MMBtu for the year, according to the U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook report released Dec. 6.

The EIA expects that Henry Hub spot prices will continue to decline in 2012, averaging $3.70 per MMBtu, 43 cents per MMBtu lower than the previous month’s Outlook.

The warm start to the heating season has lowered the forecast of average household heating expenditures for heating fuels by about 3% from last month’s Outlook. Average household heating oil and propane expenditures are now expected to increase by 8% and 5%, respectively, this winter (Oct. 1 to March 31) compared to last winter.

Monthly average regular-grade gasoline retail prices averaged $3.38 per gallon in November, 52 cents per gallon below their 2011 peak monthly average in May. EIA expects that pump prices will remain at or below current levels until early spring 2012, when prices begin their normal seasonal rise. Prices are projected to average $3.45 per gallon in 2012.

October 19, 2011
Natural Gas Spot Price Falls Again in September

WASHINGTON — The Henry Hub spot price for natural gas averaged $3.90 per MMBtu in September, 15 cents lower than the August average, according to the U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook report released Oct. 12. EIA expects that Henry Hub spot prices will fall further in October, before rising above $4 per MMBtu in December.

The report lowers the 2011 forecast by 5 cents to $4.15 per MMBtu, 24 cents less than the 2010 average. Although the average 2011 spot natural gas price is lower than the 2010 average, the forecast price over winter 2011-12 is higher than last winter’s average.

EIA expects this winter’s heating season will start with an average Henry Hub spot price of $3.78 per MMBtu in October, and that the price in 2012 will average $4.32 per MMBtu.

WASHINGTON — The Henry Hub spot price for natural gas averaged $3.90 per MMBtu in September, 15 cents lower than the August average, according to the U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook report released Oct. 12. EIA expects that Henry Hub spot prices will fall further in October, before rising above $4 per MMBtu in December.

The report lowers the 2011 forecast by 5 cents to $4.15 per MMBtu, 24 cents less than the 2010 average. Although the average 2011 spot natural gas price is lower than the 2010 average, the forecast price over winter 2011-12 is higher than last winter’s average.

EIA expects this winter’s heating season will start with an average Henry Hub spot price of $3.78 per MMBtu in October, and that the price in 2012 will average $4.32 per MMBtu.

October 19, 2010
Government Sees Declining Natural Gas Prices

WASHINGTON — Based on several weeks of strong inventory builds, the U.S. Energy Information Administration (EIA) has revised its projections for natural gas prices downward through 2011, according to its latest Short-Term Energy and Winter Fuels Outlook.

WASHINGTON — Based on several weeks of strong inventory builds, the U.S. Energy Information Administration (EIA) has revised its projections for natural gas prices downward through 2011, according to its latest Short-Term Energy and Winter Fuels Outlook.

October 19, 2010
Government Sees Declining Natural Gas Prices

September 21, 2010
Lower Economic Expectations Fuel Natural Gas Price Projections

August 23, 2010
Natural Gas Prices: Weather Cooperating

July 27, 2010
Weather Concerns Affect Natural-Gas Price Forecast