The Energy Information Administration increased its forecast for 2014 U.S. gasoline demand and retail prices. Gasoline consumption will average 8.78 million barrels a day this year, up 0.5 percent from the EIA’s December outlook of 8.74 million, the statistical arm of the Energy Department said today in its monthly Short-Term Energy Outlook . Demand in 2014 will be less than last year’s daily average of 8.79 million. Gasoline pump prices in 2014 will average $3.46 a gallon, 3 cents above last month’s estimate. Prices in 2013 averaged $3.51. Distillate demand, including diesel and heating oil, will be 3.88 million barrels a day this year, up from last month’s outlook of 3.87 million. Distillate consumption in 2013 averaged 3.83 million barrels a day. On-road diesel fuel will average $3.81 a gallon this year, higher than last month’s forecast of $3.77. Prices in 2013 averaged $3.92 a gallon. Households in the […]