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.

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