Daily update, Oct 16, 2026: Gasoline $4.33, diesel above $6, and EIA's raised Brent outlook

• EIA weekly survey (week of Oct 12): US regular gasoline averaged $4.331 per gallon, down 2.3 cents on the week and $1.27 above a year earlier. On-highway diesel averaged $6.179, down 2.0 cents on the week and about $2.51 above a year earlier. EIA gasoline and diesel prices
• EIA's October Short-Term Energy Outlook (released Oct 6) forecasts Brent crude at $105 per barrel in 4Q26, $14 higher than its September forecast, and $84 in 2027. EIA says this reflects continued Middle East disruptions (including attacks on the East-West pipeline in Saudi Arabia) and tight diesel markets. Brent averaged $114 in September. EIA STEO; EIA press release
• EIA expects retail diesel to stay above $6 per gallon in October and average about $4.50 in 2027. EIA press release
• Electricity: EIA forecasts US wholesale power prices averaging $52 per MWh in 2026, 11% above 2025, with PJM wholesale prices up 41% and Northwest Mid-Columbia down 23%; EIA says the rise is driven largely by weather-related increases in a few regions. EIA press release
• Winter fuels outlook (EIA): households heating with heating oil (about 3% of homes) could see a 21% increase in spending; electric-heat homes (over 40% of homes) a 4% increase in bills; natural-gas homes a 9% decrease in expenditures, and propane homes 3% lower. EIA Today in Energy

Sources: the links above. Watch next: next EIA weekly fuel update Oct 20, 2026 (EIA).

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