WASHINGTON — Energy Secretary Jennifer Granholm warned U.S. drivers against expecting quick relief on gasoline prices amid tight oil supplies worldwide.
While the U.S. Energy Information Administration projected in its June short-term outlook that U.S. prices at the pump will average about $4.27 per gallon in the third quarter, the forecast could be “completely upended” by world events, for instance if the European Union were to fully cut off Russian oil, Granholm said on CNN’s “State of the Union.”
“But we know this is going to be a tough summer because driving season just started,” she said. “And we know that there will be continued upward pull on demand.”
