TAMPA, Fla.— The past couple of weeks, multiple factors such as below-normal temperatures, a weakening U.S. dollar, and refinery shutdowns for maintenance steadily increased crude oil and retail gasoline prices to a 15-month high. But for five consecutive days, prices have dropped as temperatures thawed and the U.S. dollar gained more than $1.40 against the Euro.
"Since the start of January we've watched as multiple factors drove the prices of crude oil and retail gasoline to a 15-month high, but as expected, now that temperatures are warmer and the U.S. dollar is gaining in strength, we are seeing crude oil prices decrease and this will hopefully push retail gasoline prices down in the coming week," said Jessica Brady, AAA Public Relations Specialist. "The increase in the U.S. dollar against the Euro has curbed investor demand for commodities such as crude oil."
The U.S. average price of unleaded regular gasoline is now $2.74 per gallon, up 1/6th of a cent from last week; the average prices in Florida ($2.80) and Tennessee ($2.65) increased two cents from last week's prices, while Georgia's average price of $2.66 remained unchanged from last week.
Crude oil on the New York Mercantile Exchange closed Friday at $78.57 per barrel.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
Current Week Ago Month Ago Year Ago
National: $2.749 $2.743 $2.589 $1.831
Florida: $2.802 $2.781 $2.641 $1.878
Georgia: $2.667 $2.669 $2.461 $1.723
Tennessee: $2.659 $2.631 $2.462 $1.703
AAA’s Daily Fuel Gauge Report (fuelgaugereport.com) is updated each day and is the most comprehensive; reflecting actual prices from credit card transactions within the past 24 hours at two-thirds (100,000 stations) of the gasoline stations in the U.S. Its accuracy is unparalleled.
How much are you paying for gasoline taxes in Florida/Georgia/Tennessee? Use this link: http://www.aaasouth.com/acs_news/gas_taxes.asp to find out.
