Fuel Price Brief for the Week of Nov 21 | Business

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Fuel Price Brief for the Week of Nov 21
Business, Families

Consumers will get a break this holiday weekend as gas prices are not expected to increase further this week after the price of crude oil dropped $3.37 in price last week to settle Friday at $81.51 a barrel on the New York Mercantile Exchange. Crude prices decreased for the second week in a row, sparing last minute spikes in retail gas prices before Thanksgiving.

The decrease came after China announced it will raise reserves and gave speculation they will increase interest rates that could slow demand growth in the country. In addition, economic concerns in Ireland that may result in a deepened credit crisis in Europe also pushed prices lower earlier in the week.

"Consumers shouldn't expect any major spikes in retail gas prices this week before they hit road for the holiday weekend," said Jessica Brady, manager, AAA Public Relations. "Instead, retail prices should reflect minimal decreases of 2 to 3 cents."

The national average price of unleaded regular gasoline is $2.87 per gallon, 2 cents less than last week. Florida’s average price of $2.87 remains the unchanged from last week. Tennessee’s average price of $2.70 and Georgia’s average price of $2.75 also reflect a 52-cent decrease from last week, respectively.  

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