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NewsApril 8, 2005

WASHINGTON -- The Energy Department projects high gasoline prices and $50-plus crude oil at least through next year as producers struggle to keep up with demand. The department said Thursday it expects gasoline prices to average $2.35 a gallon nationwide in May, the dawn of the summer driving season. Motorists paid an average of $2.22 a gallon last week, 44 cents more than a year ago...

The Associated Press

WASHINGTON -- The Energy Department projects high gasoline prices and $50-plus crude oil at least through next year as producers struggle to keep up with demand. The department said Thursday it expects gasoline prices to average $2.35 a gallon nationwide in May, the dawn of the summer driving season. Motorists paid an average of $2.22 a gallon last week, 44 cents more than a year ago.

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If anyone thinks prices will dip below $2, once a benchmark rarely seen, they're mistaken, says Guy Caruso, head of the Energy Information Administration, the DOE's statistical agency.

Caruso said the forecast is for prices to average $2.28 a gallon through September and remain high after that, well into 2006,

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