DOCUMENT

ART - Fuel Price Forecast 2012

  • YEAR CREATED: 2012
  • ENTITY TYPE: Scholarly Publication
  • TYPE OF DOCUMENT: ART - Article, Paper, Review, Survey, Report
The document is a fuel price forecast for the budget year FY2013. The forecast is based on information from the Department of Energy, Kiplinger, and local fuel suppliers. The document states that there is expected to be even more price volatility than the previous year. For gasoline, the retail price is currently averaging $3.63 per gallon and is expected to reach $3.80 to $4.00 by early June. The forecast for the average retail price in 2013 is $3.59, but the author expects a revision upwards due to market uncertainty. For diesel, the retail price is currently averaging $3.94 per gallon and is expected to reach $4.10 to $4.30 by early June. The forecast for the average retail price in 2013 is $3.99, but the author expects a revision upwards. The document provides historical data on fuel usage and prices for comparison. It also mentions that ethanol subsidies have expired, which will increase costs. Based on the forecasts and current experiences, the author recommends a pricing range for FY2013: $3.20 to $3.40 per gallon for gasoline, $3.30 to $3.60 per gallon for diesel, and a weighted average of $3.25 to $3.50 per gallon. The author emphasizes the need for a higher number than the $2.75 used in the FY2012 budget to accurately reflect the costs of operation. The document acknowledges the volatility of the market and the potential influence of politics on pricing.
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