As oil prices rise, price at pump declines

Although petroleum prices continue to teeter with the uncertainty of Europe's financial system and the economic recovery of the United States, prices at the gas pump have dropped recently and are expected to stay on a downward trend, experts said.

Oil prices remained reached $95 per barrel, as conflicting outside factors prevented prices from fluctuating significantly.

Some experts credit European leaders' inability to resolve Greece's debt issues for keeping oil prices relatively stagnant, but others believe the creation of government jobs, helped oil prices.

No matter the reason, consumers at the pump won't feel the pull of these international issues, according to AAA.

"Retail gas prices have actually decreased throughout the past couple of weeks," said AAA spokeswoman Jessica Brady.

The national average price of regular unleaded gasoline is $3.41 per gallon, down 3 cents from last week.

A barrel of oil Monday cost $95.52 on the New York Mercantile Exchange, the highest since July 29.

The average price throughout the state is $3.39, which is also down 3 cents from last week. Surrounding states, such as Georgia, have seen similar trends, officials said.

As oil prices rise, price at pump declines 11/07/11 [Last modified: Monday, November 7, 2011 9:46pm]

© 2014 Tampa Bay Times

Join the discussion: Click to view comments, add yours

Loading...