HOUSTON, April 12 (Xinhua) -- The U.S. Energy Information Administration (EIA) forecast in a report on Tuesday that U.S. prices for retail gasoline will average 3.84 U.S. dollars per gallon this summer (April to September), up from 3.06 dollars per gallon from last summer and becoming the highest price adjusted for inflation since the summer of 2014.
In its April's Short-Term Energy Outlook (STEO), EIA expected retail diesel prices for this summer will average 4.57 dollars per gallon, also the highest inflation-adjusted price for the summer since 2014.
In the monthly forecast, U.S. crude oil production averages 12.0 million barrels per day (b/d) in 2022, up 0.8 million b/d from 2021, and will continue to increase to average almost 13.0 million b/d in 2023, surpassing the previous annual average record of 12.3 million b/d set in 2019.
EIA is a statistical and analytical agency within the U.S. Department of Energy.
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