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
DOLLAR STRENGTHENS; CRUDE DROPS TO LOWEST PRICE IN TWO WEEKS
TAMPA, Fla. (Oct. 17, 2010)—The U.S. dollar rebounded slightly last week and pushed crude oil to close Friday at a two-week low of $81.25 a barrel on the New York Mercantile Exchange—$1.41 less than last week.
Although the value of the dollar increased, it’s not known whether or not it will sustain its value and keep crude prices at bay. Some members of OPEC want to see oil prices reach $100 a barrel. They say the increase is necessary for them to receive fair value of oil, since the value of the dollar is still weak, despite recent nominal gains.
“Although crude’s price decline was minimal, it will spare consumers higher retail gas prices this week. While there shouldn’t be any increases in retail prices, there most likely will not be any decreases either,” said Jessica Brady, manager, AAA Public Relations. “Retail prices should stay somewhat stable until it’s known whether the dollar will continue to strengthen or see further declines.”
The national average price of unleaded regular gasoline is $2.83 per gallon, three cents more than last week. Florida’s average price of $2.82 and Georgia’s average price of $2.72 reflect a four-cent increase from last week. Tennessee’s average price of $2.68 reflects a two-cent increase from last week, respectively.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
Current Week Ago Month Ago Year Ago
National: $2.834 $2.802 $2.740 $2.527
Florida: $2.825 $2.786 $2.710 $2.510
Georgia: $2.720 $2.684 $2.622 $2.369
Tennessee: $2.681 $2.667 $2.589 $2.360
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.
Next Fuel Price Brief: Sunday, October 24, 2010
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