# Short Term Energy Outlook



## downtownjr (Apr 8, 2008)

Energy Information Administration - Short Term Energy OUtlook

Over the past 6 months, the monthly average price of West Texas Intermediate (WTI) crude oil fell from $133 per barrel in July to $41 in December and January. WTI prices are projected to average $43 per barrel in 2009 and $55 in 2010, unchanged from last month's Outlook.

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The U.S. price for regular gasoline averaged $1.69 per gallon in December 2008, the lowest monthly average since February 2004 and down nearly $2.40 per gallon from the monthly peak seen last July. Gasoline prices have been slowly increasing over the last 6 weeks as crude oil prices have stabilized and refiner margins have recovered from their recent near-historic lows. Retail gasoline prices are projected to average $1.95 per gallon in 2009 and $2.19 per gallon in 2010.

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The U.S. economic downturn is also contributing to a decline in natural gas consumption, particularly in the industrial sector, which has led to lower natural gas prices. The Henry Hub natural gas spot price is projected to decline from an average of $9.13 per thousand cubic feet (Mcf) in 2008 to about $5 per Mcf in 2009, but then increase in 2010 to an average of almost $6 per Mcf.

For more details....see http://www.eia.doe.gov/steo


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