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US Energy Information Administration

EIA US Energy Information Administratration

Read the latest posts and articles by the US Energy Information Administration focused on energy facts, issues, and trends.

Today in Energy

  • EIA forecasts natural gas prices to remain near $4/MMBtu in 2022, slightly lower in 2023
    14 January 2022
    In our January Short-Term Energy Outlook (STEO), we forecast that the natural gas spot price at the U.S. benchmark Henry Hub will average $3.79 per million British thermal units (MMBtu) in 2022, slightly less than its 2021 average of $3.91/MMBtu. Natural gas prices increased between March and early October 2021, but they declined in the last three months of the year. We expect natural gas prices to decline slightly in 2023, averaging $3.63/MMBtu, as growth in dry natural gas production outpaces growth in domestic demand and exports.
  • EIA expects gasoline and diesel prices to fall in 2022 and 2023 as demand growth slows
    14 January 2021
    In our latest Short-Term Energy Outlook, we expect regular gasoline retail prices to average $3.06/gal in 2022, up from $3.00/gal in 2021, and then down to $2.80/gal in 2023. We expect on-highway diesel prices to increase to average $3.33/gal in 2022 before decreasing to $3.27/gal in 2023. In our forecast, annual average diesel demand reaches 2019 levels in the United States in 2022.
  • EIA forecasts crude oil prices will fall in 2022 and 2023
    12 January 2022
    In our January 2022 Short-Term Energy Outlook (STEO), we forecast that crude oil prices will fall from 2021 levels. In the fourth quarter of 2021, the price of Brent crude oil, the international pricing benchmark, averaged $79 per barrel (b). We forecast that the price of Brent will average $75/b in 2022 and $68/b in 2023.
  • Coal will account for 85% of U.S. electric generating capacity retirements in 2022
    11 January 2022
    Operators have scheduled 14.9 gigawatts (GW) of electric generating capacity to retire in the United States during 2022, according to our latest inventory of electric generators. The majority of the scheduled retirements are coal-fired power plants (85%), followed by natural gas (8%) and nuclear (5%).
  • Solar power will account for nearly half of new U.S. electric generating capacity in 2022
    10 January 2022
    In 2022, we expect 46.1 gigawatts (GW) of new utility-scale electric generating capacity to be added to the U.S. power grid, according to our Preliminary Monthly Electric Generator Inventory. Almost half of the planned 2022 capacity additions are solar, followed by natural gas at 21% and wind at 17%.