U.S. gasoline consumption is set to climb to a record this summer as the lowest pump prices in more than a decade encourage Americans to take to the roads. Demand, which typically peaks between the Memorial Day holiday in late May and Labor Day in early September, will average a record 9.5 million barrels during the second and third quarters, up from 9.48 million forecast in May, the Energy Information Administration said in its monthly Short-Term Energy Outlook released Tuesday. The average retail price for regular-grade gasoline this summer is forecast at $2.27 per gallon, more than the $2.21 estimated in May but down from $2.63 during the 2015 summer driving season. “Even with higher crude oil prices passed on to consumers at the pump, summer retail gasoline prices are still expected to be the lowest in 12 years,” EIA Administrator Adam Sieminski said in an e-mailed statement. “Despite […]