AAA notes gas prices increasing again

AAA is reporting that the average price of unleaded gasoline increased nine-cents per gallon this week; locally that was ten cents. Currently prices are averaging $2.09, which is $1.24 less than last year’s price of $3.33.

“Retail price increases are now following a consistent seasonal pattern that we see year after year; gasoline supplies tighten because of the conversion by oil refineries from the winter blend to summer blend fuel,” said Gregg Laskoski, managing director of public relations, AAA Auto Club South. “Refineries must undergo this process before they start up their summer (peak demand season) fuel production.”

The national average price of unleaded regular gasoline increased 9-cents per gallon last past week.  In Auto Club South territory Florida’s average price increased 10-cents during the same period; both Georgia’s and Tennessee’s average price increased by 11-cents per gallon.

Crude oil closed Friday on the New York Mercantile Exchange (NYMEX) at $52.38 per barrel.

“In addition to crude oil and gasoline supply and demand, consumers should keep an eye on the value of the U.S. dollar. When the dollar weakens, investors look for a hedge against it; commodities and crude oil prices generally rise whenever the dollar is weak,” said Laskoski. “Last year is a prime example of what a weak dollar can do to gasoline prices.”

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

Current Week Ago Month Ago Year Ago

National:                     $2.045             $1.953             $1.883             $3.282

Florida:                       $2.091             $1.999             $1.939             $3.335

Georgia:                     $1.936             $1.827             $1.756             $3.245

Tennessee:                 $1.938             $1.827             $1.736             $3.165

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? Use this link: http://www.aaasouth.com/acs_news/gas_taxes.asp to find out.

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