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Fuel oil reaches highest price in 2009

By Staff | Mar 23, 2009

In a effort to jump-start the economy, the Federal Reserve announced plans to spend $1,25 trillion on government bonds and mortgage backed securities. The consequence of this announcement is the U.S. dollar immediately fell against other major currencies. As a result, investors went heavily into commodities and crude oil prices increased 11 percent in recent weeks.

Nationwide, the price of unleaded regular gas increased by $0.1 per gallon last week, while Florida’s average price increased $0.3 per gallon.

Crude oil closed Friday on the New York Mercantile Exchange (NYMEX) at $51,06 per barrel.

Current and past price averages:

National:

Current – $1.916

Week ago – $1.980

Month ago – $1.938

Year ago – $3.266

Florida:

Current – $1.999

Week ago – $1.969

Month ago – $1.991

Year ago _ $3.323

Source: AAA Auto Club South