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Gas: Relatively Stable, nationally and in 'Boro!

May 13, 2013 at 06:53 am by Bryan Barrett


Retail gas prices remained relatively stable last week in both the nation and here in the 'Boro. However, the price of a barrel of oil prices yo-yoed. Here in the 'Boro, the lowest discounted price of regular gas was up 6-cents when compare to last week.

Crude prices were on an upward path after the positive jobs report, but the price surge came to a halt after the value of the dollar rose against other currencies. Tensions overseas also countered the bearish fundamentals and have helped to keep oil prices elevated.

“Geopolitical tensions and hopeful economic news are keeping fuel prices elevated," said Jessica Brady, AAA spokeswoman, The Auto Club Group. “Fuel prices should be much lower based on the current state of supply and demand.”

U.S. output of crude oil rose again last week, pushing supplies to an 82-year high, according to the Energy Information Administration. Pump prices will likely continue the up and down price fluctuations as they have since the start of May.

A barrel of oil closed Friday at $96.04 on the New York Mercantile Exchange — 43 cents more than the week prior. 

The national average price of regular unleaded gasoline is $3.58, 6 cents more than last week. Florida’s average of $3.47 rose 4 cents, whereas Georgia’s average of $3.44 increased 2 cents from last week. Tennessee’s average of $3.25 remains unchanged. And in Murfreesboro, regular gas at many discounters was selling for $3.15 per gallon. Although a bargain compared to other areas, this reflects and increase of 6-cents when compared to the previous week's lowest prices.

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