prices will eventually reach $51 a barrel by 2025 because of inflation
and rising energy needs in developing nations, according to an Energy Department
by the DOE's Energy Information Administration said strong economic growth
in Asia would drive world energy prices in the next decade. The developing
world's demand for energy will nearly double by 2025 with oil, coal and
natural gas leading the way.
projects global energy demand to grow about 54 percent by 2025. But China,
India and other developing countries will see a 91 percent jump as these
countries continue rapid industrial development, said the EIA.
are expected to still be the major oil suppliers in 2025, the report said.
They now account for about a third of the oil being pumped.
average U.S. retail price of diesel fuel is $1.679 – the highest prices
are in California, where the average is $2.162.