Fuel price brief
Although retail gas prices continued to fall last week, the price of crude oil increased slightly after the value of the U.S. dollar fell to a one-week low against the euro. crude oil settle Friday at $100.59 a barrel on the New York Mercantile Exchange $1.10 more than last week.
The value of the dollar fell after reports showed consumers spending in the U.S. increased less than forecast for the month of April. In addition, the G-8 met last week and said the economic recovery is strengthening which gave a boost to the price of oil.
The national average price of unleaded regular gasoline is $3.79 a gallon, six cents less than last week. Florida’s average price of $3.74 is eight cents less than last week, Georgia’s average price of $3.69 is 12 cents less than last week. Tennessee’s average price of $3.58 per gallon reflects a nine cent decrease from last week.
Current and past price averages for unleaded regular gasoline:
National: Current – $3.790 Week ago – $3.852 – Month ago $3.909 – Year ago $2.741
Florida: $3.740 – Week ago $3.823 – Month ago $3.860 – Year ago $2.738
Source: AAA Auto Club South