Fuel price brief
The U.S. dollar strengthened against the euro last week, after the euro fell the most since January on news that Greece may not receive financial assistance from the European Union to help ease dept issues. The change in currency value boosted the dollar and made crude oil less appealing to investors; signs the market is still strongly influenced by the dollar. Crude oil closed Friday at $80.68 at barrel on the New York Mercantile Exchange.
U.S. fuel consumption decreased more than expected by 4.2 percent during the week of March 8, according to a report released last week by the Energy Department. This is 7.8 percent lower than the five-year average for the second week in March.
The national average price of unleaded regular gasoline is $2.82 per gallon reflecting a four-cent increase from last week. Florida’s average price is $2.85, Tennessee is $2.70 and Georgia is at $2.72 per gallon, all reflecting a one-cent increase from last week, respectively.
Current and past averages:
National: Current $2.820 – Week ago $2.789 – Month ago $2.623 – Year ago $1.950
Florida: Current $2.850 – Week ago $2.844 – Month ago $2.661 – Year ago $1.992
Source: AAA Auto Club South