The weight of the taxes increased from 25 % in the first half of 2008 to 35 % in the first half of 2021. In the first semester of 2022, the price of natural gas for household consumers increased substantially to €0.0861 per kWh, from €0.0638 per kWh of the year before, reaching an all-time high since this data collection started. Then the price decreased until 2017, started increasing again in 2018, before dropping once again in 2020. Overall in the EU, there was an upward trend in natural gas total prices in the first half of each year, from a low of €0.0562 per kWh in the first half of 2010 to a peak of €0.0692 per kWh in the first half of 2013. This is due to the seasonal effect and reflected in the zig-zag shape of the curves in Figure 2. Generally, these prices are higher in the second half of each year. The average price in the EU - a weighted average using the most recent (first half 2022) data for natural gas consumption by household consumers - was €0.0861 per kWh.įigure 2 presents the development of natural gas prices for household consumers in the EU since the first half of 2008. gasoline production did not increase as much as consumption, contributing to gasoline inventory withdrawals of 25.5 million barrels (10%) from January 2021 to December 2021.Figure 1: Natural gas prices for household consumers, first half 2022 gasoline consumption averaged 8.8 million b/d in 2021, and consumption in the fourth quarter of 2021 totaled only 0.2 million b/d (2%) less than in the fourth quarter of 2019. gasoline consumption has mostly returned to pre-pandemic levels. We estimated in our December 2021 Short-Term Energy Outlook (STEO) that U.S. refinery capacity, and low gasoline inventories. Other factors contributing to higher retail gasoline prices in 2021 include higher demand for gasoline, reduced U.S. Crude oil prices in 2021 increased throughout most of the year, and the average crude oil price for 2021 was the highest price since 2018. One major contributor to the high retail gasoline prices was high crude oil prices. In addition, summer driving in the Rocky Mountains (when the number of visitors to national parks is at its highest) contributed to lower gasoline inventories and higher gasoline prices in that region. Retail gasoline prices increased the most in the Rocky Mountains and on the West Coast because of refinery closures in those regions that led to reduced refinery output of gasoline and lower gasoline inventories. From January 4, 2021, to December 27, 2021, retail gasoline prices increased by $0.88/gal in the Midwest, $1.20/gal in the Rocky Mountains, and $1.32/gal on the West Coast. The retail price for regular grade gasoline in 2021 averaged from a low of $2.67/gal on the Gulf Coast to a high of $3.70/gal on the West Coast. gasoline prices vary regionally, reflecting local supply and demand conditions and differences in state fuel specifications and taxes. The average price first passed $3.00/gal on May 17, after disruptions to Colonial Pipeline operations, and it continued to increase after that, peaking at $3.41/gal on November 8 and finishing the year at $3.28/gal, which is $1.03/gal higher than at the start of the year. ![]() ![]() retail gasoline price began the year at $2.25/gal. The average price for retail gasoline increased by more than $1.00/gal between the start and the end of 2021. retail price for regular grade gasoline increasing to $3.01 per gallon (gal) in 2021, the highest average nominal price since 2014. Rising crude oil prices and increased gasoline demand contributed to the average U.S. Energy Information Administration, Gasoline and Diesel Fuel Update
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