Average price per gallon rising 1.2 cents to $3.915 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).
TODAY IN ENERGY: Thursday, August 1, 2013-EIA
Proved reserves of crude oil and natural gas in the United States up sharply in 2011
U.S. proved crude oil reserve additions in 2011 set a record volumetric increase for the second year in a row, according to newly published estimates in EIA’s U.S. Crude Oil and Natural Gas Proved Reserves, 2011. Natural gas proved reserve additions fell short of setting a record, but still ranked as the second largest annual increase since 1977. Crude oil reserves rose 15% to the highest level since 1985, and natural gas reserves were up almost 10%.