Fuel oil reaches highest price in 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