Gasoline prices continue to drop
Following a week in which crude oil closed near its highest price of 2009, crude futures on the New York Mercantile Exchange closed the week Friday falling by $6 per barrel to $66.01 per barrel in response to a mixed bag of economic news.
The Reuters/University of Michigan consumer sentiment index improved from August to September, but at the end of last week, broad economic indicators such as the Dow Jones Index, Standard and Poors 500 Index and the Nasdaq all declined immediately following a Commerce Department report on durable good orders. These are products that are expected to last at least three years, like refrigerators or washers and dryers and they’re considered to bellwether on consumer purchasing and the economy.
The national average price of unleaded regular gasoline is $2.50 per gallon, down 5 cents in the past week. Florida’s average today at $2.44, Georgia’s at $2.31 and Tennessee’s average price of $2.30 are all down by 3 cents, 2 cents and 3 cents respectively in the past week.
National current and past price averages for regular unleaded gasoline:
Current: $2.551
Week ago: $2.573
Month ago: $2.613
Year ago: $3.667
Florida current and past price averages for regular unleaded gasoline:
Current: $2.440
Week ago: $2.447
Month ago: $2.595
Year ago: $3.727
Source: AAA Auto Club South