15 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 DECLINES AFTER POOR ECONOMIC CONDITIONS REPORTED
TAMPA, Fla. (Aug. 15, 2010)—The price of crude oil decreased $5.28 this week as economic conditions and decreased demand do not support crude oil staying above $80 a barrel. Joblees claims rose by 2,000 last week with more than 484,000 claims filed; the highest level since February. The increased claims are a result of weakened consumer demand and contribute to the decrease in U.S. retail sales.
In addition, the U.S. dollar strengthened to its highest level in three weeks against the euro, curbing the appeal of crude as a commodity. Crude oil settled Friday at $75.42 a barrel on the New York Mercantile Exchange.
“The price of crude oil will most likely move lower this week and may trade below $75 a barrel as the condition of the U.S. economy does not support prices much higher,” said Jessica Brady, manager, AAA Public Relations. “As a result, consumers can expect to see gas prices go down this week and it’s possible prices may decrease further into the Labor Day weekend.”
The national average price of unleaded regular gasoline is $2.75 per gallon, 2 cents more than last week. Florida’s average price is 3 cents less than last week at $2.70 per gallon. Georgia’s average price of $2.63 and Tennessee’s average price of $2.59 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: $2.755 $2.776 $2.723 $2.645
Florida: $2.709 $2.732 $2.649 $2.630
Georgia: $2.632 $2.659 $2.576 $2.490
Tennessee: $2.591 $2.614 $2.535 $2.487
To view daily state and metro gasoline averages visit www.fuelgaugereport.com
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 22, 2010