by Tim Church
WASHINGTON D.C. – For the first time in more than a decade, the U-S Energy Information Administration is forecasting back-to-back years of annual average gasoline prices below two-dollars a gallon.
Jonathan Cogan, with the EIA, files this report:
Cogan adds record high U-S oil inventories along with growing global oil production are expected to keep crude oil prices low.
Cogan says the last time gasoline averaged less than two-dollars a gallon for two years in row was during 2003 and 2004.