The U.S. Energy Information Administration recently released its Annual Energy Outlook for 2019 report. It’s a federal forecast for anticipated energy needs in the future. Chris Bliley, vice president of regulatory affairs for Growth Energy, says this report underscores the importance of providing lower-cost options at the fuel pump. “America’s thirst for clean, affordable fuel options is set to remain strong for decades to come,” he says. “Consumers deserve a cleaner, more affordable options, and that’s exactly what higher ethanol blends like E15 can deliver. Regulators at the Environmental Protection Agency must act quickly on the president’s promise and open the door to competition at the fuel pump year-round.”
The new EIA report predicts that “motor gasoline and diesel fuel retail prices will increase by 76 cents per gallon and 82 cents per gallon, respectively, between 2018 and 2050. The jump in fuel prices over that time frame will come because of rising crude oil prices. Additionally, the report also concludes that light-duty vehicle miles traveled will jump by 20 percent, going from 2.9 trillion miles in 2018 to 3.5 trillion in 2050. The rise in miles traveled comes as a result of rising incomes and a growing population.
Source: NAFB News Service