FOX Facts: Short -Term Energy Outlook
Retail regular gasoline prices are projected to average $2.50 per gallon in 2006 and $2.40 in 2007
Summer regular gasoline pump prices are expected to average $2.62 per gallon, 25 cents higher than last year's average of $2.37 per gallon
Retail diesel prices are also expected to average $2.62 per gallon this summer.
Fall fuel prices are expected to be much lower than last year because of the effects of Hurricanes Katrina and Rita in 2005.
Natural gas prices are projected to be down during the late summer and fall compared to the hurricane disruption-related highs of 2005
Source: Energy Information Administration
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FOX Facts: U.S. Consumption
The United States consumes over 20 million barrels (840 million gallons) of petroleum products each day
The United States is the world's third largest crude oil producer
2004: Less than 40 percent of the crude oil used by U.S. refineries was produced in the United States
50 percent of US petroleum imports are from countries in the Western Hemisphere
19 percent of US petroleum imports are from the Persian Gulf
18 percent of US petroleum imports are from Africa
Source: Energy Information Administration
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