Diggin' these $2-a-gallon and less gasoline prices?
The federal government expects them to last at least through the end of 2016.
According to a statement released earlier this week by Adam Sieminski, the U.S. Energy Information Administration's chief, motorists in this country can expect to see gasoline prices remain down and possibly even decline a little more than what they were in June.
"A combination of lower crude oil prices, high gasoline production, and rising gasoline inventories pushed gasoline prices down this year," Sieminski said.
That has nothing to do with this being an election year, I'm sure.
When prices get this low, debates inevitably emerge about whether state and federal gasoline taxes should be bumped up a few pennies per gallon before anyone notices. The argument is to generate extra cash for much-needed road repairs and improvements to our aging transportation network while people can still cushion themselves against such increases.
But - probably no coincidence - we're apparently not going to hear much talk about that until after the election, too.
Other interesting EIA tidbits:
Natural Gas: For the first time since 1957, the United States is on track to export more natural gas than it imports. That will likely happen in the second half of 2017. Supplies are expected to be at a record high for the start of the upcoming winter, meaning our monthly heating bills shouldn't get too far out of whack once frost sets in.
Electricity: Coal-fired power continues to be used less as markets continue to shift more toward natural gas and renewable energy.
Renewables: The amount of electricity generated by hydropower is expected to increase this year for the first time in five years.