In EIA’s April Short-Term Energy Outlook (STEO), we expect the ongoing effects of the COVID-19 pandemic to significantly affect petroleum markets in the summer of 2021. However, markets will be less affected than they were last summer, and we expect COVID-19 impacts will diminish through 2021 as an increasing portion of the population is vaccinated against COVID-19. In the April STEO, vaccinations and fiscal stimulus support continuing economic recovery, which drives petroleum demand growth. We expect prices and consumption of gasoline and distillate fuel to be up from last summer (Figure 1). We consider the summer ... (full story)