Fuel Price Brief for the Week of Oct. 10

10 October 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

CRUDE MOVES SLIGHTLY HIGHER AFTER NEWS THE FEDERAL RESERVE MAY BUY U.S. DEBT
 
TAMPA, Fla. (Oct. 10, 2010)—The price of crude oil moved slightly higher last week to settle Friday at $82.66 a barrel on the New York Mercantile Exchange—an increase of $1.08. Although the dollar made minimal gains against the euro, it wasn’t enough to help push the price of crude lower.
 
Instead, speculation the Federal Reserve will buy more U.S. debt in an effort to boost the economy and keep rates low pushed the price of crude higher. The news came after reports from the Labor Department showed more jobs were cut and U.S. jobless claims rose more than expected in September.
 
“We’re in a bull market right now and it’s likely we will see the price of crude trade between $75 and $85 for the remainder of the month,” said Jessica Brady, manager, AAA Public Relations. “Retail gas prices will move higher this week in response to crude’s price increase.”
 
The national average price of unleaded regular gasoline is $2.80 per gallon, 9 cents more than last week. Florida’s average price of $2.78 and Georgia’s average price of $2.68 also reflect a 9 cent increase from last week. Tennessee’s average price of $2.66 reflects a 10 cent increase from last week, respectively.  
 
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
 
                                    Current           Week Ago      Month Ago     Year Ago
National:                    $2.802          $2.711                  $2.685              $2.476
Florida:                      $2.786          $2.693                  $2.646              $2.428
Georgia:                     $2.684          $2.596                  $2.562             $2.283
Tennessee:                 $2.667          $2.567                  $2.511              $2.282
 
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 17, 2010

 

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