The price of a barrel of oil has shown minimal price fluctuations this month, trading at an average of $93 a barrel. Varying economic news has kept oil prices relatively stable. The positive announcements about the U.S. jobless rate and supply reduction are countered by Europe's lagging economies and debt issues. The nation's crude inventories dropped 1.3 million barrels in the second week of March. This is the first decline in nine weeks, according to the Energy Information Administration.
"March is expected to end with falling gas prices in time for those who plan to travel during the Easter holiday," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "However, the drop in supply is a sign of increased demand, a trend typically seen at the start of April. As a result, motorists could see pump prices move right back up in April, before leveling off near June."
A barrel of oil closed Friday at $93.71 on the New York Mercantile Exchange — 26 cents more than the week prior.
The national average price of regular unleaded gasoline is $3.67, 2 cent less than last week. Florida's average of $3.69 fell 4 cents and Tennessee's average of $3.47 decreased 3 cents. Georgia's average of $3.53 fell 6 cents from last week, respectively. Visit AAA's Daily Fuel Gauge Report to find national, state, and local metro market retail gasoline prices.
CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline
Current Week Ago Month Ago Year Ago
National: $3.671 $3.686 $3.781 $3.892
Florida: $3.686 $3.733 $3.880 $3.900
Georgia: $3.531 $3.585 $3.773 $3.790
Tennessee: $3.465 $3.499 $3.640 $3.718
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