US Energy Secretary Chris Wright discusses the fall in national electricity prices under President Donald Trump, emphasizing the need for reliable energy in the face of new demands such as AI and more on ‘Kudlow. ‘
Oil and fuel Prices are expected to decrease next year, according to the latest forecast from the Energy Information Administration (EIA).
The EIA published its short-term outlook last year, which indicated that the price of Brent Crude oil will drop from $69 a barrel by $55 to $55 a barrel next year. That could still be less than the $81 per barrel it was in 2024.
Electricity prices it is also expected that their decline will continue in the following year. Gasoline prices are expected to reach $3.30 a gallon in 2024 and $3.10 a gallon this year, but are expected to drop below $3 a gallon in 2026, according to the EIA report.
US oil production picked up this year and is expected to remain at that level through 2026, with the EIA projecting US production to reach 13.2 million barrels per day in 2024.
Gas prices fall below $3 nationwide as Trump says $2 gas affordable
Energy and crude oil prices are expected to decline next year, according to the EIA’s forecast. (Zeng hui / xinhua via Getty Images)
Natural gas prices are expected to continue rising after a significant increase this year. The price of natural gas in Henry Hub was $ 2.20 per British British Units (Btus) in 2024 and the EIA forecast is $ 4 in the year 2026.
In recent years, the US has become the world’s largest exporter liquefied natural gas (LNG)holding the top position in 2023 and 2024, and export levels continue to rise.
The EIA noted that the US exported 12 billion feet per day of LNG last year, with that figure rising to 15 billion feet per day in 2025 and 16 billion feet per day the following year.
Demand for oil and gas could increase until 2050, IEEE says
The US led the world in LNG shipments in 2023 and 2024, with shipment volumes projected to increase this year and next. (Stefan Sauer / Photo Alliance via Getty Images)
The EIA report also broke down the share of gas generation For sources across the US, which showed natural gas as the largest source with a 40% share in 2025 and 2026, down slightly from 42% last year.
The share of electricity produced by renewables – the category that includes hydropower, solar, wind, gerothermal and bia destroyed in 2024 and predicted at 26% the following year.
Energy secretary says Doe Loan Office will finance nuclear power, shows painful priorities
Microsoft is re-opening the water plant of the smell of the scent of the smell of the smell of the smell of the high-quality turreted to help to achieve the increased power due to the data centers of AI. (Heather Khalifa/Bloomberg via Getty Images)
Share of nuclear energy The energy mix decreased slightly from 19% to 18% from 2024 to 2025, while it is expected to hold steady at 18% the following year.
Coal’s share of total electricity generation has also been flat, with EIA reporting it was 16% last year, 17% by 2025, and projected back to 16% next year.
Find FOX business on the go by clicking here
The report touched again carbon dioxide (CO2) emissionsslightly increased from 48 billion metric tons in 2024 to 4.9 billion metric tons this year. EIA forecasts it will return to 4.8 billion metric tons next year.
