Motorists face prospect of continued high fuel prices

It seems as though motorists cannot expect a meaningful drop in fuel prices soon. The United States Energy Information Administration projects that global crude prices will remain near US$100 a barrel through the end of the year. According to the agency’s latest short-term outlook, persistent supply constraints and ongoing shipping disruptions in the Middle East are keeping downward pressure on global inventories. While production shut-ins in the region have declined from their mid-year peaks, the EIA expects continued market tightness to support elevated prices before output recovers and inventories rebuild heading into 2027. Brent is currently trading in the low 90s, but the rhetoric around the war continues to create uncertainty. 

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