Mideast turmoil may roil gas prices

Published: Monday, November 19, 2012 at 11:19 a.m.
Last Modified: Monday, November 19, 2012 at 11:19 a.m.

Although gas prices are expected to fall throughout the Thanksgiving holiday, the rate of decrease is expected to slow as renewed violence in the Middle East has raised new concerns of a supply disruption in the region, experts say.


Average regular unleaded gasoline prices

National: $3.416
Florida: $3.335
Gainesville: $3.433

Week Ago
National: $3.437
Florida: $3.357
Gainesville: $3.495

Month Ago
National: $3.692
Florida: $3.651
Gainesville: $3.769

Year Ago
National: $3.370
Florida: $3.377
Gainesville: $3.447

Source: AAA

“Whenever violence escalates in the Middle East as it has with Israel and its surrounding countries, oil prices are sure to increase," said Jessica Brady, AAA spokeswoman, The Auto Club Group.

“In the short term, Thanksgiving travelers shouldn’t see gas prices spike before the holiday, but instead may see prices remain relatively flat,” she said.

If Mideast tensions are eased, motorists can expect gas prices to decrease as initially forecast throughout the end of the year.

A barrel of oil closed Friday at $86.67—60 cents more than the week prior.

The national average price of regular unleaded gasoline is $3.42, 2 cents less than last week. Florida’s average of $3.33 dropped 3 cents from last week. Georgia’s average price of $3.25 increased 2 cents from last week, respectively.

In Gainesville, prices ranged from $3.25 to $3.69, with an average of $3.42.

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