Holiday doesn't see jump in gas prices


Published: Monday, December 1, 2008 at 7:44 a.m.
Last Modified: Monday, December 1, 2008 at 7:44 a.m.

Gasoline prices bucked a trend over the four-day Thanksgiving weekend by falling. Industry analysts noted that gas prices usually rise over holiday weekends but fell by about a dime a gallon this Thanksgiving in Florida and nationwide.

Facts

Average prices paid in Florida for unleaded gas

Current $1.882
Week Ago $1.983
Month Ago $2.524
Year Ago $3.138

Source: AAA

According to AAA Auto Club South, gas prices have dipped to their January 2005 levels. In their weekly news release, AAA officials said prices declined despite an estimated 33 million Americans traveling by car over the long weekend.

Analysts said some of the decline is likely related to information released by the Department of Energy the day before Thanksgiving. For the ninth straight week, federal officials said the nation's crude oil inventory remained healthy and that pronouncement likely held prices for crude oil by the barrel in the mid $50s.

In AAA's Sunday news release, officials noted that there were discussions earlier this year about crude oil possibly rising to $200 a barrel and now the talk includes the possibility of crude prices falling to near $40 in the remaining weeks of 2008.

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