Gas prices still on the rise; no spike yet

PRESS RELEASE

TAMPA, Fla. – Although gas prices haven't spiked yet, they are
still on the rise. Pump prices rose about 3 cents from last week
nationwide with southeastern states making smaller gains.

“Although we haven't seen
gas prices spike yet, motorists should still expect them to rise well
into spring,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
“At this point, there are several factors that have placed upward
pressure on oil prices in addition to seasonal maintenance and jump in
demand.”

Last week, the market got
some positive news that payrolls increased more than forecast for
February. In addition, the current geopolitical tensions in Russia have
the market concerned about a possible supply disruption at a time when
fuel demand picks up globally.

A barrel of oil closed Friday at 102.58 on the New York Mercantile Exchange – 1-cent more than the week prior.

Sunday's national average for a gallon of regular unleaded gasoline is
$3.49, 3 cents more than last week. Florida's average of $3.46 rose
1-cent from last week. Georgia's average of $3.32 increased 2 cents,
while Tennessee's average of $3.22 rose 1-cent from last week. 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 $3.49 $3.46 $3.27 $3.70
Florida $3.46 $3.45 $3.32 $3.78
Georgia $3.32 $3.30 $3.18 $3.65
Tennessee $3.22 $3.21 $3.08 $3.54

 

 

(SOURCE: AAA)