- In February 2008, the EIA forecast that gasoline prices would peak at $3.40 in the spring.
- In March, they forecast that prices would peak at $3.50 in the spring.
- In April, they forecast that gas prices would peak at $3.60 in the spring.
- By early May, prices were at $3.57 and climbing, so the new official projection said that prices would peak this month, in June, at $3.73.
- By late May -- just weeks after the new forecast -- the average price was already at $3.94. And yesterday's national average gasoline price was $4.04. So now they're saying that prices will peak in August, at $4.15.
There have always been reasons to doubt the EIA numbers, simply because they were coming from a government -- a very interested party. I think de Place has show here that they are losing credibilty very fast.