TAMPA, Fla. - Retail gasoline prices that were declining consistently for nearly two weeks did an about-face at week' s end after crude oil closed at $44.76 on the New York Mercantile Exchange (NYMEX). Friday' s price represents the highest price seen since the Israel-Hamas conflict in Gaza was blamed for bringing crude to $46 per barrel in early February.
"Retail gasoline prices had declined steadily last week from Sunday through Thursday, but the fact that crude oil jumped and then held at $44 appears to be what's pushed retail gasoline higher nationwide," said Gregg Laskoski, managing director of public relations, AAA Auto Club South.
From Friday to Sunday, the national retail price average of unleaded regular gasoline increased 4-cents per gallon. In Florida, the average retail price increased 3-cents per gallon during the same period while Georgia's and Tennessee's average price of gasoline both increased by 5-cents per gallon.
In the Gainesville area, gasbuddy.com reports the cheapest for regular is in Barrow County: $1.59 at one outlet in Statham and $1.67 at two outlets in Winder. It was selling Sunday night for $1.72 at one outlet each in Cornelia and Cumming; $1.74 in Suwanee; and $1.75 in Buford.
The cheapest in Hall County? $1.85 at outlets in Flowery Branch and Gainesville.
Although crude oil's Friday closing price on the NYMEX represents an 11 percent increase over Monday's opening price, the Associated Press reports that analysts are skeptical that price will hold.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
Current Week Ago Month Ago Year Ago
National: $1.921 $1.917 $1.846 $3.165
Florida: $1.967 $1.970 $1.907 $3.247
Georgia: $1.810 $1.792 $1.750 $3.157
Tennessee: $1.790 $1.777 $1.717 $3.078
Tuesday
October 8th, 2024
6:25PM
