AAA Motor Club says since Friday, the nationwide average price of one gallon of unleaded regular gasoline increased from $1.845 to $1.867; in Florida the average price increased from $1.906 to $1.930; in Georgia the average price increased from $1.749 to $1.773 and in Tennessee the average increased from $1.717 to $1.745.
Crude oil and gasoline inventories have both climbed for eight consecutive weeks because of slowing economies in the U.S. and worldwide despite OPEC and U.S. oil industry efforts to reduce output and bring supply and demand closer together.
One volatile issue that could push crude prices and retail prices higher fairly quickly is a potential strike by the United Steelworkers Union. The current contract with union workers at refineries owned by Royal Dutch Shell Plc expired Sunday. According to Bloomberg Business News, the contract covers workers at refineries representing nearly two-thirds of the nation's refinery capacity.
Crude oil closed Friday on the New York Mercantile Exchange (NYMEX) at $41.68 per barrel.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline:
Current Week Ago Month Ago Year Ago
National: $1.867 $1.845 $1.626 $2.987
Florida: $1.931 $1.903 $1.647 $3.045
Georgia: $1.773 $1.746 $1.512 $2.943
Tennessee: $1.746 $1.716 $1.470 $2.881
http://accesswdun.com/article/2009/2/217368