Gas prices should start coming down this week


Published: Monday, January 12, 2009 at 7:22 a.m.
Last Modified: Monday, January 12, 2009 at 7:22 a.m.

While gas prices usually move in tandem with crude oil prices, analysts and consumers have been looking for an explanation of pricing over the past week. As crude oil prices fell, prices at the pump rose.

Facts

Average regular, unleaded gas prices in Florida:

Current $1.833
Week Ago $1.678
Month Ago $1.828
Year Ago $3.147

Source: AAA Auto Club South

According to AAA Auto Club South, gas prices increased by 15-cents a gallon in Florida over the past week, the same time span during which crude oil prices declined by $5.51 a barrel.

In the auto club's weekly news release, Gregg Laskoski, the managing director of public relations, described the pricing situation as "a 'disconnect' that's difficult to explain."

Laskoski said crude oil traded for $49 a barrel early last week because of the war in Gaza and the possibility that the war could affect oil shipments out of the Middle East. Oil prices spent the rest of the week retreating because of the weak global economy and the U.S. recession, according to Laskoski.

"It's rare when retail gasoline prices are not moving in the same direction as crude oil prices. Given current supply and demand, they should both be decreasing," Laskoski said. "We should expect to see retail gasoline prices decline this week, barring any major disruptions to the oil infrastructure."

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