|
|
|
|
|
 |
|
Gas prices show slight downward trend
By SUZETTE PORTER
Article published on Sunday, May 4, 2008 |
PINELLAS COUNTY – Gas and diesel prices continue to set records and experts predict the trend to continue through the summer.
Despite a slight decline in the national average from May 3 to May 4, financial analysts say that motorists should not expect relief from record-high gas prices anytime soon.
“With crude oil prices still trading on the NYMEX at well over the $100 per barrel mark, motorists in Florida, Georgia and Tennessee and across the nation will not see any relief soon,” said Randy Bly, director of community relations, AAA Auto Club South.
The federal Energy Information Administration reported on April 30 that the average price had spiked 21.4 cents since April 14. The only good news was that on a regional basis, prices increased at a somewhat slower pace than the previous week.
The national average price for a gallon of unleaded was $3.164 on May 4, down from $3.167 on May 3, according to AAA’s Daily Fuel Gauge Report, www.aaafuelgaugereport.com.
The price for a gallon of diesel was down to $4.244 on May 4, compared to $4.246 the day before.
In Tampa Bay, a gallon of unleaded was selling for $3.58 on May 4, down from the record high of $3.59 set on May 2. Diesel fuel also showed a slight reduction at $4.204 compared to the new record set on May 2 of $4.208.
At this same time last year, unleaded gas was averaging $2.93 in Tampa Bay. A gallon of diesel was $2.91.
“A recent report from the U.S. Department of Labor reported fewer than expected job losses in April. While this is certainly some good news, market analysts recognize that the economy during the first quarter performed a bit better than expected and future demand for gasoline may prove higher than anticipated,” Bly said. “With Memorial Weekend just around the corner…all will likely have the effect of keeping upward pressure on crude oil and gasoline prices throughout the week.”
NYMEX crude oil closed Friday at $116.32 per barrel.
|
Article published on Sunday, May 4, 2008
Copyright © Tampa Bay Newspapers: All rights reserved. |
|
|
|
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
|
|
|
|
|
|
|
Tampa Bay Newspapers
9911 Seminole Blvd.
Seminole, FL 33772
(727) 397-5563
Open Monday-Friday 8 a.m. to 5 p.m.
|
|
