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May 10, 2009 7:41 pm US/Eastern
So. Fla. Gas Prices Higher Than National Average
MIAMI (CBS4) ―
Pump prices have inched upwards over the past month, but they remain significantly lower than a year ago.
AAA reports that unleaded regular gas has gone up about 13 cents in Miami and 10 cents in Fort Lauderdale. The current pump price average in Miami is $2.28 and it was $2.15 a month ago. Farther north in Fort Lauderdale, prices jumped from $2.14 to $2.24 over the past month. That's slightly higher than the national average of $2.21.
The reason stems from a hike in crude oil prices that climbed to $58.63 per barrel, which is the highest price in 2009. Wholesale prices have also peaked at their highest levels of the year, according to Retail Fuel Watch, a weekly oil trade publication.
Those price hikes are being passed down to the consumer and a spokesman for AAA Auto Club South said higher prices indicate the economy is in recovery as the demand for fuel increases.
"A recent run-up in wholesale prices, retail price increases defy the fundamentals that tell us we still have weak demand, a surplus of oil, and healthy output from refineries," said Gregg Laskoski, managing director of public relations at AAA Auto Club South. "But some analysts believe that news last week from the U.S. Dept. of Labor reporting a decline in unemployment benefit claims points to emerging recovery and growing demand for fuel in the near term."
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