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Archive for Saturday, December 10, 2005

High fuel, energy costs to endure in 2006

December 10, 2005

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People may have to get used to high gasoline and heating costs since tight energy markets are projected through 2006, industry and government officials said Friday.

Howard Gruenspecht, deputy administrator of the Energy Information Administration, said average gasoline prices are likely to be higher next year, although not as high as in the aftermath of the hurricanes that disrupted supplies from the Gulf Coast region.

He said that the EIA, the Energy Department's statistical agency, has revised upward its expectations of crude oil prices during the next few years.

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