Gas $2.62 nationally, $2.34 in ‘Boro…could drop more!

November 30, 2009

Concerns that Dubai banks might default on $60 billion in debt led to The Dow Jones Industrial average giving up 155 points Friday. The Dow fell as much as 233 points during a broad retreat and the dollar gained against most other major currencies while commodities tumbled. NYMEX crude oil ended the week at $76.05 per barrel.

Looking ahead, investors are expected to either shrug off the financial crisis in the Middle East or seek protection in more conservative investments. ”If the Dubai debt problem worsens, we should probably expect crude oil prices to reflect that and a decline in crude could bring a more pronounced decline in retail gasoline prices during December,” said Gregg Laskoski, managing director of public relations, AAA Auto Club South.

The national average price of unleaded regular gasoline today is $2.62 per gallon, a decrease of 2 cents from one week ago. The average prices in Florida, Georgia and Tennessee are $2.67, $2.50 and $2.49 respectively and each state’s average is essentially even with last week. With $2.49 being the average here in the Volunteer State, if you look around Murfreesboro you can find $2.34 per gallon petro!

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