May 28 (Bloomberg) -- Canada’s National Energy Board predicted oil prices will average $50 to $60 a barrel this summer and gasoline prices in the nation will remain near current levels.

Natural-gas deliveries to storage facilities across North America will fall to about 11 billion cubic feet a day from 12.1 billion a year ago, the board said in its summer outlook. Storage will be at a record 4.23 trillion cubic feet at the beginning of November, the board said.

Prices “will be driven by the rate of economic growth,” John McCarthy, head of strategy and analysis at the board, said on a conference call today. Canadian retail gasoline prices, which average about C$1 a liter ($3.47 a gallon), should remain flat during the summer driving season, the board said.

The board, a federal regulator of energy sales, exports and transportation, said electricity demand will determine prices for natural-gas and power exports this year. Gas will likely average $3.20 to $4.20 per million British thermal units over the summer as increased output from shale gas formations in the U.S. Southeast temper the declines in production from Canada, it said.

New York gas futures have tumbled 67 percent in the past year to $3.90 per million Btu. Oil has dropped 51 percent to $64.60 a barrel. Canada is the biggest foreign supplier of oil, gas and electricity to the U.S.

To contact the reporter on this story: Gene Laverty in Calgary at glaverty@bloomberg.net.

Last Updated: May 28, 2009 13:39 EDT