February gas prices jump more than initially forecast
by Press release--AAA
Feb 04, 2013 | 1069 views | 0 0 comments | 6 6 recommendations | email to a friend | print
TAMPA, Fla. (Feb. 3, 2013) -- Both oil and gas prices are on the rise and pump prices are expected to move higher throughout the month. Initially, it looked as though there would be moderate price gains, but some areas have already seen gas prices increase 5 to 15 cents.

A positive economic outlook, supply issues, refinery maintenance, and preparation for the summer fuel switch helped push oil prices closer to $100 a barrel on the New York Mercantile Exchange (NYMEX). As a result, gas prices increased at a faster rate than expected.

"Motorists can expect to see gas prices increase this month," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Refineries have started to prepare for maintenance season and the switch from winter to summer grade gasoline. Refinery output has already seen a reduction. In addition, positive economic news has led to an increase in oil prices which also translates to higher prices at the pump."

A barrel of oil closed Friday at $97.77 on the New York Mercantile Exchange— $1.89 more than the week prior.

The national average price of regular unleaded gasoline is $3.51, 16 cents more than last week. Florida’s average of $3.56, 14 cents more than last week. Georgia’s average of $3.45 rose 13 cents, and Tennessee’s average of $3.31 increased 13 cents from last week, respectively. Visit AAA’s Daily Fuel Gauge Report to find national, state, and local metro market retail gasoline prices.

Current and past gas price averages: National:

Current-$3.514

Last week-$3.347

Last month-$3.295

Last year-$3.475

Florida:

Current-$3.562

Last week-$3.423

Last month-$3.382

Last year-$3.601

Georgia:

Current-$3.447

Last week-$3.324

Last month-$3.292

Last year-$3.487

Tennessee:

Current-$3.306

Last week-$3.182

Last month-$3.163

Last year-$3.384
Comments
(0)
Comments-icon Post a Comment
No Comments Yet
Postings are not edited and are the responsibility of the author. You agree not to post comments that are abusive, threatening or obscene. Postings may be removed at our discretion.