Energy Roundup: Higher Electricity Prices Expected

OMA staff members are tracking the following energy-related developments:

• The U.S. average gasoline price continues to climb, hitting $4.41 on May 12, according to AAA. (Here’s the average price in Ohio.)
• The U.S. average diesel price has surpassed $5.60, according to the Energy Information Administration.
• U.S. natural gas prices have increased considerably since February, reaching more than $7.60 per MMBtu as of May 12.
• The American Petroleum Institute says the U.S. needs a long-term energy strategy while the petroleum industry deals “with the same issues that a lot of other industries are dealing with,” including labor and supply shortages.
• Based on recent utility auction results, Ohioans who aren’t currently utilizing a contract will likely spend considerably more on electricity this summer, according to reports.

The U.S. Department of Commerce’s investigation into potential solar tariff circumvention could threaten the Biden administration’s decarbonization efforts, according to U.S. Department of Energy officials. 5/12/2022