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Posted: Monday, January 14th 2013 at 6:42am

Gas prices increase, remain below 2012 levels

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TAMPA, Fla. – Retail gas prices are still on an upswing and will likely increase throughout the end of the month. Since January 1, the national average has increased 2 cents, while gas prices in the Southeast have jumped an average of 8 cents.

While pump prices have increased since the start of 2013, both the national average and state averages in the Southeast are less than they were this time last year. Annually, retail gas prices are forecast to be less than they were in 2012. The annual average for a gallon of regular gas in 2012 was $3.60. This year, the annual average is forecast to be $3.44, according to the Energy Information Administration (EIA).

"Gas prices are expected to average less this year because of lower demand and increased domestic oil production," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "While gas is forecast to cost less this year, motorists will see prices inch up in the short term, before they stabilize and/or retreat."

A barrel of oil closed Friday at $93.56 on the New York Mercantile Exchange—47 cents more than the week prior.

The national average price of regular unleaded gasoline is $3.31, 1 cent more than last week. Florida’s average of $3.44 increased 5 cents from last week, Georgia’s average of $3.33 rose 1 cent, and Tennessee’s average of $3.20 increased 2 cents from last week, respectively. Visit AAA’s Daily Fuel Gauge Report to find national, state, and local metro market retail gasoline prices.

Link: AAA Daily Fuel Gauge Report
Associated Categories: Homepage, Business News, Local/State News

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