|
|
|
|
|
 |
|
Temperatures down, gas prices up
By SUZETTE PORTER
Article published on Thursday, Dec. 7, 2006 |
 |
![[Image]](/content_images/120706_fpg-01.jpg) |
| Graphic courtesy of the EIA |
| The blue line shows the rise and fall of retail gasoline prices in 2005. The red line shows price fluctuations for 2006. |
|
PINELLAS COUNTY - Although snow and ice and freezing temperatures aren't likely around Pinellas this year, residents aren't immune for the affects of winter weather.
Gas prices rose for the fourth week in a row, according to the This Week in Petroleum Report, released by the Energy Information Administration on Wednesday, Dec. 6.
The EIA tracks official energy statistics from the U.S. government.
According to the report, the U.S. average retail price for regular gasoline rose 5.1 cents to $2.297 a gallon as of Dec. 4, which is 15 cents per gallon higher than at this time last year. Gulf Coast prices were up 6.1 cents to $2.182 a gallon.
For people planning trips for the holidays, East Coast prices were up 6.6 cents to $2.293 a gallon. In the Midwest, prices increased 5.5 cents to $2.261 a gallon. Rocky Mountain prices went up 1.3 cents to $2.248 a gallon. The West Coast saw an increase of 1 cent to $2.485 a gallon, with California prices increasing by 0.3 cent, to $2.49 a gallon.
According to AAA's Dec. 5 Fuel Gauge Report, the average retail price of a gallon of regular unleaded in the Tampa Bay area was $2.267, which is almost 12 cents higher than the same date in November and more than 20 cents higher than the same date in 2005.
Diesel fuel prices also are increasing, according to the EIA. The Fuel Gauge Report shows the average price in Tampa Bay at $2.628, which is a little more than 4 cents higher than last month and almost 14 cents higher than in 2005.
"Falling gasoline prices are now part of the past. Crude oil prices have also increased from $58 to over $63," said Randy Bly, director of community relations for AAA Auto Club South.
Bly also said a variety of factors, such as a weaker U.S. dollar, colder weather and OPEC's November cuts in production of crude oil, have contributed to the rising price of gasoline and crude oil.
"The expected upturn in prices will likely continue in the foreseeable future," Bly said.
The EIA predicts that if the U.S. does not experience a prolonged period of colder-than-normal weather, which would cause a strain on the supply of heating oil, and there is no disruption in oil supplies, the price of crude oil most likely will not reach $70 a barrel this winter and the price of a gallon of regular unleaded gasoline should stay below $2.50.
Weather will continue to play a major role in setting the price of oil and gas. The threat of hurricanes impact costs from June through November and cold weather from December through March.
"Cold weather increases the demand for heating oil, which will, at some point, require refiners to make more heating oil to either supply the increased demand or replenish inventory levels," according to the EIA. "As a result, refiners will need to run more crude oil through their refineries, thus increasing the demand for crude oil and putting upward pressure on crude oil prices. As a result of higher crude oil prices, prices for many petroleum products, including gasoline, rise, which is one reason why cold weather in one part of the country can ultimately affect gasoline prices in another part of the country."
|
Article published on Thursday, Dec. 7, 2006
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.
|
|
