From Border to Border...
Price Records Set in State
Many gasoline and diesel price records have been set in the state. In most instances, if a new record was not set, the price has been closing in on the record high.
The latest prices — updated daily — are available at the agency’s Gas Price Monitor along with other useful resources and consumer tips for using gasoline efficiently.
Driving Season Projections
According to the March 8, 2005, Energy Information Administration’s “Short-Term Energy Outlook,” oil markets will remain tight due to expected growth in demand. As a result, oil prices are projected to stay above $45 per barrel through 2006. With high oil prices and refineries running near their capacity, gasoline prices have increased. During the summer driving season — April to September — the increased demand is expected to keep gasoline prices high despite adequate inventories. The Energy Information Administration is projecting a national average for the season of $2.10 at the pump, which is a 20-cent increase over last year's gasoline prices.
Triple Price Pain for Growers
Several economists are projecting farm profits in the Midwest to decline by 20 percent this year because of soaring energy costs for three essential items: gasoline, diesel fuel and anhydrous ammonia. According to the Wall Street Journal, farmers in Iowa have reported paying 20 percent more this year for anhydrous ammonia which is made from natural gas. Typically, natural gas prices closely parallel oil prices and have also risen to near historic highs. Even pesticides, made from petroleum-based compounds, have risen by 3 to 5 percent.