Gas Prices Level Off Over Holiday Weekend After Falling 39 Consecutive Days

gas-station-green-pump-handles Florida - After 3 weeks of declining, gas prices leveled off over the holiday weekend. On Sunday the state average went up by less than a penny after 39 consecutive days of falling. "Oil and wholesale gasoline prices rose last week, causing the dip in gas prices to stall," said Mark Jenkins, spokesman for AAA, The Auto Club Group. "There's upward pressure on fuel prices right now, based on optimism that OPEC will agree on production cuts, in effort to curb the global oversupply that left prices low. The outcome of that November 30th meeting could cause swings of $10 in oil and 25 cents in gasoline, by the end of the year." The price of crude oil averaged $47.49 during the past week - that's $2.23 more than the previous week's average. Wholesale gas prices moved up by 10 cents, and retail gas prices fell by 2 cents in the Sunshine State. The average price for a gallon of regular self-serve unleaded was $2.13 nationally on Thanksgiving Day and $2.10 in FL. Nationally, those prices were the 2nd lowest for Thanksgiving Day since 2008. Last year's prices were 8 cents lower nationally, and 2 cents lower in FL. 2016-11-28_120048

(Chart courtesy AAA)

Copyright Southern Stone Communications 2016.


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