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ReportAnnual Energy Outlook 2015Scenarioref2015Reference caseDatekeyd021915aRelease Date April 2015PPP00012. Petroleum and Other Liquids Prices(2013 dollars per gallon, unless otherwise noted)2013- Sector and Fuel201220132014201520162017201820192020202120222023202420252026202720282029203020312032203320342035203620372038203920402040

Crude Oil Prices (2013 dollars per barrel)PPP000:ba_WorldOilPrice Brent Spot113.31108.6497.4755.6271.0776.3576.2577.6979.1381.2983.6486.0988.6091.1393.8696.6899.58102.57105.64108.81112.08115.43118.71122.20125.81129.33133.18137.41141.281.0%PPP000:bb_ForeignLSLigh West Texas Intermediate Spot95.5397.9191.8052.7267.2870.1470.0671.5072.9675.1077.4879.9582.4885.0287.7390.5593.4696.4299.48102.76106.05109.50112.79116.25119.89123.53127.48131.80135.671.2%PPP000:bb_Imported_Real Average Imported Cost 1/102.5998.1287.7049.5163.9768.1367.8869.1270.5072.8075.1777.5579.9982.4885.0387.5390.5293.2996.1699.34102.63105.83108.94112.10115.55119.07123.14127.05130.761.1%PPP000:see_spot_markup Brent / West Texas Intermediate Spread17.7910.735.672.903.796.216.186.196.176.196.166.146.126.116.136.136.126.146.176.056.025.945.925.965.935.795.705.625.61-2.4% Delivered Sector Product Prices ResidentialPPP000:da_LiquefiedPetr Propane2.222.132.171.922.032.062.082.092.102.112.122.142.152.162.182.192.202.222.232.252.272.292.312.332.352.362.382.412.430.5%PPP000:da_DistillateFue Distillate Fuel Oil3.793.783.632.602.852.912.912.952.993.043.103.163.223.283.353.423.503.573.653.733.813.903.994.084.174.264.374.474.560.7% CommercialPPP000:ea_DistillateFue Distillate Fuel Oil3.693.683.542.532.772.802.812.852.892.953.013.073.143.203.273.343.413.493.563.643.723.813.903.994.084.174.284.384.470.7%PPP000:ea_ResidualFuel Residual Fuel Oil3.433.312.961.672.042.042.052.092.122.172.232.282.342.392.452.522.582.642.712.782.852.923.003.083.163.243.323.473.640.4%PPP000:ea_ResidualFuel( Residual Fuel Oil (2013 dollars per barrel)144.04139.04124.4170.1985.8185.6485.9487.5989.1991.2993.5195.7898.13100.52103.06105.63108.24110.97113.80116.88119.90122.76126.14129.40132.70136.03139.64145.71152.990.4% Industrial 2/PPP000:fa_LiquefiedPetr Propane1.951.851.891.561.701.741.761.781.791.811.821.841.861.871.891.911.931.951.961.992.022.042.072.092.122.142.172.202.240.7%PPP000:fa_DistillateFue Distillate Fuel Oil3.763.753.612.582.832.822.832.872.912.973.043.103.173.233.303.373.443.513.583.663.743.833.924.004.104.194.294.394.490.7%PPP000:fa_ResidualFuel Residual Fuel Oil3.093.002.671.511.851.911.921.962.002.052.102.152.212.272.332.392.452.512.582.652.722.792.872.953.033.113.193.343.510.6%PPP000:fa_ResidualFuel( Residual Fuel Oil (2013 dollars per barrel)129.80125.88112.2563.6277.7580.2880.5982.2483.8285.9388.1490.4192.7695.1597.67100.23102.82105.54108.36111.42114.44117.29120.65123.90127.20130.53134.14140.20147.460.6% TransportationPPP000:ga_LiquefiedPetr Propane2.312.242.272.012.122.152.172.192.192.202.212.232.242.252.272.282.302.312.322.342.362.382.402.422.442.462.472.502.520.4%PPP000:ga_Ethanol(E85) E85 3/3.393.143.072.142.442.852.882.862.902.892.762.792.792.772.792.822.872.932.982.993.043.083.123.163.193.233.283.333.380.3%PPP000:pr_EthanolWhole Ethanol Wholesale Price2.582.372.192.162.122.682.632.592.492.532.512.512.492.472.452.422.412.392.352.372.412.432.462.492.502.532.572.612.640.4%PPP000:ga_MotorGasoline Motor Gasoline 4/3.723.553.352.312.632.702.702.702.742.782.822.862.902.953.003.043.093.153.203.263.333.403.463.533.603.663.743.833.900.3%PPP000:ga_JetFuel Jet Fuel 5/3.102.942.671.712.082.092.092.142.172.232.282.352.412.472.552.632.712.792.882.963.053.133.223.313.403.503.623.713.811.0%PPP000:ga_DieselFuel(Di Diesel Fuel (distillate fuel oil) 6/3.943.863.702.703.023.073.083.123.173.233.313.373.433.493.563.633.703.773.843.924.004.094.174.264.354.454.554.654.750.8%PPP000:ga_ResidualFuel Residual Fuel Oil3.002.892.601.481.801.661.671.701.741.801.841.891.942.002.042.112.182.242.302.372.452.512.582.642.712.792.872.933.030.2%PPP000:ga_ResidualFuel( Residual Fuel Oil (2013 dollars per barrel)125.81121.55109.0162.0275.7569.9270.3071.5973.2775.4877.4679.2181.6283.8885.8888.5591.6293.9696.5899.62102.87105.45108.34110.90113.88116.99120.35123.09127.410.2% Electric Power 7/PPP000:ha_DistillateFue Distillate Fuel Oil3.343.333.222.302.522.532.532.572.602.662.722.782.842.902.973.043.123.203.283.363.443.533.623.703.803.894.004.094.190.9%PPP000:ha_ResidualFuel Residual Fuel Oil3.122.832.991.721.651.501.511.681.711.771.821.871.931.992.052.112.172.232.302.372.452.512.592.672.752.832.923.063.230.5%PPP000:ha_ResidualFuel( Residual Fuel Oil (2013 dollars per barrel)130.93118.78125.7772.1169.2362.8663.2170.4172.0174.1376.3778.6481.0183.4285.9988.5491.1493.8696.6899.74102.76105.60108.97112.22115.51118.83122.43128.49135.740.5%Average Prices, All Sectors 8/PPP000:ia_LiquefiedPetr Propane2.092.002.061.781.861.901.911.921.931.941.951.961.971.992.012.022.032.052.062.092.112.132.162.182.202.222.242.272.300.5%PPP000:ia_MotorGasoline Motor Gasoline 4/3.703.533.332.312.632.702.702.702.742.782.822.862.902.953.003.043.093.143.203.263.333.393.463.533.603.663.743.833.900.4%PPP000:ia_JetFuel Jet Fuel 5/3.102.942.671.712.082.092.092.142.172.232.282.352.412.472.552.632.712.792.882.963.053.133.223.313.403.503.623.713.811.0%PPP000:ia_DistillateFue Distillate Fuel Oil3.893.833.672.662.963.003.023.063.113.163.243.303.363.433.503.573.643.713.783.863.944.034.124.204.304.394.504.604.690.8%PPP000:ia_ResidualFuel Residual Fuel Oil3.042.902.731.561.791.691.711.781.831.881.931.982.042.102.152.212.282.342.402.472.552.612.682.752.832.902.983.083.220.4%PPP000:ia_ResidualFuel( Residual Fuel Oil (2013 dollars per barrel)127.65121.71114.6365.7275.2470.9771.6474.8976.7078.9981.1883.2085.6388.0090.2992.8695.6698.13100.80103.83106.96109.64112.72115.57118.67121.86125.33129.51135.100.4%PPP000:ia_Average Average3.293.163.012.112.402.432.422.432.462.492.532.572.602.652.692.742.792.842.892.963.023.093.163.233.303.373.453.543.620.5%Prices in Nominal DollarsCrude Oil Spot Prices (nominal dollars per barrel)PPP000:nom_WorldOilPric Brent Spot111.65108.6499.0257.5875.0081.9983.4186.5889.7593.7898.08102.60107.30112.20117.50123.06128.92135.08141.61148.59155.90163.58171.31179.62188.41197.35207.20218.19229.012.8%PPP000:nom_ForeignLSLig West Texas Intermediate Spot94.1297.9193.2654.5871.0075.3276.6579.6882.7586.6390.8695.2999.88104.68109.82115.26121.00126.99133.35140.33147.52155.16162.77170.87179.54188.51198.34209.27219.933.0%PPP000:nom_Imported_Rea Average Imported Cost 1/101.0998.1289.0951.2667.5273.1574.2677.0379.9683.9888.1592.4396.87101.55106.44111.41117.20122.87128.90135.66142.75149.97157.22164.77173.05181.70191.58201.74211.972.9%Delivered Sector Product PricesNominal Dollars per Gallon ResidentialPPP000:nom_R_LiquefiedP Propane2.192.132.211.992.142.212.272.332.382.442.492.552.602.662.732.792.852.922.993.073.163.253.333.423.513.613.703.823.942.3%PPP000:nom_R_Distillate Distillate Fuel Oil3.733.783.692.693.003.133.193.293.393.513.633.763.904.044.204.354.534.714.905.105.315.535.755.996.246.506.797.097.402.5% CommercialPPP000:nom_C_Distillate Distillate Fuel Oil3.633.683.592.622.923.013.073.183.283.403.533.663.803.944.094.254.424.594.784.975.185.405.625.866.116.376.656.957.252.5%PPP000:nom_C_ResidualFu Residual Fuel Oil3.383.313.011.732.162.192.242.322.412.512.612.722.832.953.073.203.343.483.633.803.974.144.334.534.734.945.175.515.902.2% Industrial 2/PPP000:nom_I_LiquefiedP Propane1.921.851.921.621.791.871.931.992.042.082.132.192.252.302.372.432.492.562.632.722.812.892.983.083.173.273.373.493.622.5%PPP000:nom_I_Distillate Distillate Fuel Oil3.713.753.672.672.983.023.093.203.303.423.573.703.833.984.134.294.454.624.805.005.205.435.655.896.136.396.686.987.282.5%PPP000:nom_I_ResidualFu Residual Fuel Oil3.053.002.721.571.952.052.102.182.262.362.462.572.672.792.913.043.173.313.463.623.793.964.154.344.544.744.975.305.692.4% TransportationPPP000:nom_T_LiquefiedP Propane2.282.242.302.082.242.312.372.442.492.542.602.662.712.782.842.912.973.043.123.203.293.383.473.563.653.753.853.974.092.2%PPP000:nom_T_Ethan(E85) E85 3/3.343.143.122.212.573.063.153.193.293.343.243.323.383.413.493.593.723.863.994.084.234.364.504.654.784.925.115.285.482.1%PPP000:nom_T_EthanWhole Ethanol Wholesale Price2.552.372.232.232.242.882.872.882.832.922.942.993.013.043.073.083.113.153.153.233.353.443.553.673.753.864.014.144.272.2%PPP000:nom_T_MotorGasol Motor Gasoline 4/3.673.553.412.392.782.902.953.013.103.213.303.413.523.633.753.874.004.144.294.454.634.814.995.185.385.595.826.086.322.2%PPP000:nom_T_JetFuel Jet Fuel 5/3.062.942.711.772.192.242.292.382.472.572.682.802.923.053.193.353.513.683.864.044.244.444.654.875.105.355.635.906.182.8%PPP000:nom_T_DieselFuel Diesel Fuel (distillate fuel oil) 6/3.893.863.762.793.193.303.373.483.603.723.884.014.154.304.464.624.794.975.155.355.565.796.026.266.526.787.087.397.702.6%PPP000:nom_T_ResidualFu Residual Fuel Oil2.952.892.641.531.901.791.831.901.982.072.162.252.352.462.562.682.822.953.083.243.413.563.723.884.064.254.464.654.922.0% Electric Power 7/PPP000:nom_E_Distillate Distillate Fuel Oil3.293.333.272.382.662.712.772.862.953.073.193.313.443.573.723.874.044.214.394.594.795.005.225.455.685.946.226.506.792.7%PPP000:nom_E_ResidualFu Residual Fuel Oil3.072.833.041.781.741.611.651.871.942.042.132.232.342.452.562.682.812.943.093.243.403.563.743.934.124.324.544.865.242.3% Average Prices, All Sectors 8/PPP000:nom_Avg_Liquefie Propane2.062.002.101.841.962.042.092.142.192.232.282.342.392.452.512.572.632.702.772.852.943.023.113.203.303.393.493.613.732.3%PPP000:nom_Avg_MotorGas Motor Gasoline 4/3.643.533.382.402.782.902.953.013.103.213.303.413.523.633.753.874.004.144.294.454.634.814.995.185.385.595.826.086.322.2%PPP000:nom_Avg_JetFuel Jet Fuel 5/3.062.942.711.772.192.242.292.382.472.572.682.802.923.053.193.353.513.683.864.044.244.444.654.875.105.355.635.906.182.8%PPP000:nom_Avg_Distilla Distillate Fuel Oil3.833.833.732.763.133.233.303.413.523.653.803.934.074.224.384.544.714.895.075.275.485.715.946.186.446.707.007.307.612.6%PPP000:nom_Avg_Residual Residual Fuel Oil (dollars per barrel)125.78121.71116.4568.0479.4176.2178.3783.4686.9991.1395.2099.17103.70108.34113.02118.21123.86129.24135.12141.79148.78155.37162.67169.87177.72185.96194.99205.65219.012.2%PPP000:nom_Avg_Average Average3.243.163.062.192.532.612.652.712.792.882.973.063.153.263.373.493.613.743.884.044.214.384.564.754.955.145.375.625.862.3%

1/ Weighted average price delivered to U.S. refiners. 2/ Includes combined heat and power plants that have a non-regulatory status, and small on-site generating systems. 3/ E85 refers to a blend of 85 percent ethanol (renewable) and 15 percent motor gasoline (nonrenewable). To address cold startingissues, the percentage of ethanol varies seasonally. The annual average ethanol content of 74 percent is used for this forecast. 4/ Sales weighted-average price for all grades. Includes Federal, State, and local taxes. 5/ Includes only kerosene type. 6/ Diesel fuel for on-road use. Includes Federal and State taxes while excluding county and local taxes. 7/ Includes electricity-only and combined heat and power plants that have a regulatory status. 8/ Weighted averages of end-use fuel prices are derived from the prices in each sector and the corresponding sectoral consumption. Note: Data for 2012 and 2013 are model results and may differ from official EIA data reports. Sources: 2012 and 2013 Brent and West Texas Intermediate crude oil spotprices: Thomson Reuters. 2012 and 2013 imported crude oil price: EIA,Monthly Energy Review, DOE/EIA-0035(2014/08) (Washington, DC, August 2014).2012 and 2013 prices for motor gasoline, distillate fuel oil, andjet fuel are based on: EIA, Petroleum Marketing Monthly, DOE/EIA-0380(2014/08) (Washington, DC, August 2014).2012 and 2013 residential, commercial, industrial, and transportation sector petroleum productprices are derived from: EIA, Form EIA-782A, "Refiners'/Gas Plant Operators' Monthly Petroleum Product Sales Report."2012 and 2013 electric power prices based on: EIA, Monthly EnergyReview, DOE/EIA-0035(2014/08) (Washington, DC, August 2014). 2012 and 2013 E85 pricesderived from monthly prices in the Clean Cities Alternative Fuel Price Report. 2012 and2013 wholesale ethanol prices derived from Bloomberg U.S. average rack price.Projections: EIA, AEO2015 National Energy Modeling System run ref2015.d021915a.