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December 14, 2009

Wholesale and retail gasoline prices decline

Submitted by AAA

TAMPA, Fla. — Crude oil on the New York Mercantile Exchange closed the week on Friday down $5.60 settling at $69.87 per barrel. This is the first time oil has closed below $70 per barrel since the week ending October 2, which closed at $69.95.

Crude oil’s decline has extended to eight consecutive days and has contributed to lower wholesale and retail gasoline prices nationwide.

The national average price of unleaded regular gasoline is now at $2.60, down 3 cents per gallon in the past week. Florida’s average price is 2.66 per gallon; Georgia’s average today is $2.49 and Tennessee’s average is now $2.48 per gallon. All three states have seen their average price for unleaded regular gasoline decline by 2 cents per gallon in the past week.

“For months oil analysts have noted the lack of demand growth but part of the decline in crude oil now can also be attributed to a lack of cold weather,” said Gregg Laskoski, managing director of public relations, AAA Auto Club South. “We should not be lulled by declining crude prices in December because a typical winter up north can rapidly pressure refineries to produce more heating oil at the same time more gasoline is needed and that often pushes pump prices higher.”



CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline



Current Week Ago Month Ago Year Ago

National: $2.609 $2.633 $2.645 $1.660

Florida: $2.666 $2.686 $2.693 $1.700

Georgia: $2.493 $2.516 $2.515 $1.572

Tennessee: $2.488 $2.502 $2.507 $1.505



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.

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.

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