EIA Reports Crude $35 a Barrel Higher On Average Versus Last Year



The U.S. Energy Information Administration (EIA) reported that crude oil prices have averaged almost $35 per barrel higher this year compared to last year since the beginning of November.

The average increase translates to about 83 cents per gallon. According to EIA’s latest Short-Term Energy Outlook, crude oil prices are expected to soften slightly as the winter progresses, but they estimate a likely "downward correction" to the price levels of last year.

We want to hear from you. Questions, opinions and suggestions are all welcomed by the Rigzone Staff. Write us at news@rigzone.com .