Wednesday 12:17pm
April 23, 2014
Currently 70°F
Posted: Saturday, November 9th 2013 at 11:51am

Pump prices at lowest since December 2011

By The Associated Press
EMAIL STORY CONTACT EDITOR PRINT
click to enlarge
NEW YORK (AP) -- The price of gasoline is the lowest in nearly two years, an early holiday gift for U.S. drivers.

The nationwide average for gas is now $3.21. It hasn't been that low since December 2011. Five states - Arkansas, Kansas, Missouri, Oklahoma and Texas - have averages below $3 a gallon.

Gas has fallen 38 cents since Labor Day, a period in which oil prices declined by about $14 a barrel. In addition, a relatively calm hurricane season has meant no major storm-related disruptions at the nation's big refineries.

AAA earlier this week forecast the national average could drop to $3.10 by the end of the year.

Meanwhile, the price of oil rose 40 cents Friday to close at $94.60 a barrel. Encouraging data on U.S. employment was offset by the possibility of a loosening of sanctions against Iran by the West.

Brent crude, the international benchmark for oil, rose $1.66 to $105.12 a barrel on the ICE Futures exchange in London.

In other energy futures trading on Nymex:

- Wholesale gasoline added 5 cents to $2.55 a gallon.

- Heating oil gained 3 cents to $2.87 a gallon.

- Natural gas advanced 4 cents to $3.56 per 1,000 cubic feet.
Associated Categories: National News, Business News, Local/State News

© Copyright 2014 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.


  • Click here
  • Click here
  • Click here
  • Click here
  • Click here
0.039031
icon
70°F
Gainesville, GA 30501
Clear
Wind: West 10 mph
Dew point: 34°F