01 August 2010
FUEL PRICE BRIEF
CONTACT: For your local media contact visit www.AAA.com/Media
Jessica Brady, manager, AAA Public Relations, office: (813) 288-7294; cell: (813) 532-5327
PRICE OF CRUDE OIL REMAINS RELATIVELY UNCHANGED
TAMPA, Fla. (Aug. 01, 2010) - The price of crude oil remained relatively unchanged, closing only 3 cents less than the week prior. Crude oil closed Friday to settle at $78.95 a barrel on the New York Mercantile Exchange.
Crude inventories rose by 7.3 million barrels in the week ended July 23 and pushed U.S. stockpiles to more than 360 million barrels. The U.S. Commerce Department reported the GDP grew less than expected in recent weeks and consumer spending hit a plateau—another sign demand is slow to rise.
"The price of crude oil hasn’t fluctuated too much in the past few weeks and has kept summer gas prices affordable," said Jessica Brady, manager, AAA Public Relations. "Retail gas prices may drop a cent or two, if at all this week, keeping prices stable for yet another week."
The national average price of unleaded regular gasoline is $2.73 per gallon, the same average as last week and Florida’s average price is 1 cent more than last week at $2.68 per gallon. Tennessee’s average price of $2.57 and Georgia’s average price of $2.61 both reflect a 2-cent increase from last week, respectively.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
Current Week Ago Month Ago Year Ago
National: $2.737 $2.737 $2.750 $2.527
Florida: $2.683 $2.674 $2.692 $2.515
Georgia: $2.613 $2.596 $2.635 $2.388
Tennessee: $2.571 $2.557 $2.589 $2.368
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.
Next Fuel Price Brief: Sunday, August 8, 2010