Did You Know?

Though the issue has largely stopped grabbing headlines and has simply become a fact of life, the cost of fuel is likely to be on the rise again in 2010. So says the United States Energy Information Administration (EIA), whose Short-Term Energy Outlook expects the price of crude oil to substantially increase in 2010 and 2011. Crude oil averaged $62 per barrel in 2009, a figure EIA expects to escalate to roughly $80 and $84 per barrel in 2010 and 2011, respectively. The escalating cost of crude oil figures to hit the nation's drivers at the pump, where the EIA predicts a substantial increase in the price of regular grade gasoline. While the cost of fuel averaged $2.35 per gallon in 2009, the average gallon fuel could cost drivers $2.84 in 2010 and $2.96 in 2011. While this might seem like a tough pill to swallow, the EIA notes these figures take the country's ongoing economic recovery into consideration. So while the higher cost of fuel might cause some to cringe, the economy's recovery might just make those costs easier to handle.
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