TAMPA, Fla. — Gas prices are still creeping up in some parts of the southeastern United States, but motorists are forecast to pay the lowest summer gas prices since 2009. In comparison to this same date last year, motorists in Florida, Georgia and Tennessee are saving 87 cents, 88 cents, 92 cents per gallon respectively.
“Prices should begin to drop later this month as refiners around the nation complete their maintenance switchover to produce summer-fuel grades,” said Mark Jenkins, spokesman, The Auto Club Group. “The post-switchover drop in June over the past five years has averaged 12 cents per gallon.”
The national average of $2.75 per gallon is 1-cent more than last week. The Florida average is $2.71, 5 cents more than last week. The Georgia average of $2.68 is the same as last week. The Tennessee average of $2.51 is 2 cents more than last week.
As expected, OPEC opted to maintain its current production levels at 30 million barrels a day. The decision was based on the rationale that global prices are at levels suitable for both producers and consumers. The decision is also reportedly based on projections for an increase in world oil demand in the near term driven by developing countries. The oil cartel plans to continue to monitor developments in the coming months and could reassess their decision at their next meeting scheduled for December 4.
At the close of formal trading on the NYMEX WTI was up $1.13, settling at $59.13 per barrel.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
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AAA updates fuel price averages daily at http://www.fuelgaugereport.aaa.com/. Every day up to 120,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.