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FUEL PRICE BRIEF CONTACT: For your local media contact visit www.AAA.com/Media
Jessica Brady, AAA spokeswoman, The Auto Club Group, |
GAS PRICES STABILIZE AT START OF DECEMBER
TAMPA, Fla. (Dec. 2, 2012) – Gas prices continue to show minimal movement at the start of December and it’s likely prices will remain relatively flat until the New Year. Currently, there are equal bearish and bullish pressures that have kept oil prices within the same price range for the past couple of weeks.
"Although gas prices are forecast to remain relatively stable throughout the month, if a plan is announced to resolve the nation’s debt issues, we could see gas prices inch back up,” said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Gas prices are still about 10 cents higher than year-ago levels."
History has shown once December 31 arrives, the market tends to rally on economic optimism for the New Year. The rally usually causes both oil and gas prices to increase at the start of January.
A barrel of oil closed Friday at $88.91 on the New York Mercantile Exchange—63 cents more than the week prior.
The national average price of regular unleaded gasoline is $3.39, 4 cents less than last week. Florida’s average of $3.37 decreased 2 cents from last week. Both Tennessee’s average of $3.17 and Georgia’s average price of $3.28 remain the same as last week, respectively. Visit AAA’s Daily Fuel Gauge Report to find national, state, and local metro market retail gasoline prices.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
Current Week Ago Month Ago Year Ago
National: $3.391 $3.426 $3.496 $3.286
Florida: $3.371 $3.389 $3.456 $3.294
Georgia: $3.281 $3.282 $3.337 $3.176
Tennessee: $3.167 $3.170 $3.263 $3.094
Next Fuel Price Brief: Sunday, December 9, 2012