Lagging economic growth in China, the world's second largest oil consuming country, as well as a strengthened U.S. dollar have also kept oil prices stable during the past three weeks. However, retail gas prices continue to increase at a slow, but steady pace.
"The fact that oil prices are showing some stability is a positive, but retail gas prices are still on the rise. Although the rate of increase has slowed, gas prices continue to steadily inch up week after week. Pump prices are still expected to increase well into spring as we approach the summer driving season," said Jessica Brady, AAA spokeswoman, The Auto Club Group.
The national average price of regular unleaded gasoline is $3.83, a 4-cent increase from last week. Florida's average of $3.82 increased 3 cents, while Georgia's average of $3.72 rose 4 cents from last week. Tennessee's average price of $3.64 increased 5 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: $3.838 $3.792 $3.529 $3.542
Florida: $3.823 $3.790 $3.664 $3.565
Georgia: $3.722 $3.689 $3.538 $3.449
Tennessee: $3.647 $3.592 $3.482 $3.403
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