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U.S. Department of Energy and EIA See Gasoline Prices Staying High Near Term

U.S. Department of Energy and EIA See Gasoline Prices Staying High Near Term

According to the U.S. Department of Energy and EIA (U.S. energy statistics agency), average gasoline prices are expected to decline only in late 2026 and 2027.

Fact Check
The claim accurately reflects the findings of the EIA's March 10, 2026, Short-Term Energy Outlook. According to the report (cited in 'Short-Term Energy Outlook for petroleum products - EIA'), gasoline prices were revised upward for 2026 due to geopolitical conflict. The EIA specifically forecasts that Brent crude will stay high (above $95/b) in the near term (next two months) and only begin to fall significantly in the third quarter of 2026 and into 2027, which aligns with the claim that prices will decline only in 'late 2026 and 2027'.
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Terms & Concepts
  • EIA: The Energy Information Administration, a U.S. agency that publishes energy market data, forecasts, and analysis.