Posted: Monday, March 10th 2014 at 5:13am
Gas prices still on the rise; no spike yet
TAMPA, Fla. – Although gas prices haven’t spiked yet, they are still on the rise. Pump prices rose about 3 cents from last week nationwide with southeastern states making smaller gains.
“Although we haven’t seen gas prices spike yet, motorists should still expect them to rise well into spring,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “At this point, there are several factors that have placed upward pressure on oil prices in addition to seasonal maintenance and jump in demand.”
Last week, the market got some positive news that payrolls increased more than forecast for February. In addition, the current geopolitical tensions in Russia have the market concerned about a possible supply disruption at a time when fuel demand picks up globally.
A barrel of oil closed Friday at 102.58 on the New York Mercantile Exchange - 1-cent more than the week prior.
Sunday's national average for a gallon of regular unleaded gasoline is $3.49, 3 cents more than last week. Florida's average of $3.46 rose 1-cent from last week. Georgia’s average of $3.32 increased 2 cents, while Tennessee's average of $3.22 rose 1-cent from last week.
Link: AAA Fuel Gauge Report
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