• Font Size    

Don't Let The Bad Economy Get You Down!

Fabulous Freebies Found Online
E-mail

Close Window E-mail This Page

Weak Demand, High Supply Keep Gas Prices Low

Required fields are marked with an asterisk(*)

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

   Print     Share +   
Sep 20, 2009 7:17 pm US/Eastern

Weak Demand, High Supply Keep Gas Prices Low

TAMPA (CBS4) ― A combination of weakening demand and high supply is keeping gas prices low even as crude oil futures closed the week $3 higher than last week's close on the New York Stock Exchange, according to the AAA Florida gas price survey. Florida gas prices are still 8 cents lower than the national average, according to the AAA Florida gas price survey. 

Last week, the U.S. Dept. of Energy reported that gasoline inventories rose 547,000 barrels to 207 million. That's 4 percent greater than the average for this time of year.

"Even though the dollar weakened against the Euro and analysts say that decline was the momentum for investment into crude oil and other commodities, this is a rare time when such speculative investment is not expected to create upward momentum for gasoline prices," said Gregg Laskoski, managing director of public relations, AAA Auto Club South.

Statewide, prices are almost 13 cents lower than one month ago. Statewide, the average price of a gallon of regular unleaded is $2.47 a gallon.

One year ago, a gallon of unleaded cost $1.34 more, averaging $3.81 in Florida.

In South Florida, prices are a bit higher, according to CBS4.com's Eye on the Pump.

A gallon of unleaded averaged $2.52 this weekend.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

You may not believe what you see in these videos

© MMIX, CBS Television Stations Inc. All Rights Reserved.