TAMPA, Fla. — Crude oil closed at its highest price in five weeks amid concerns future gasoline supplies may tighten in response to an ongoing strike by Total S.A. French refinery workers that began Wednesday, Feb. 17. The local union also called for strikes at Exxon Mobil Corp.’s plants in Normandy and Southern France to begin Tuesday, Feb. 23; however, nothing has been confirmed.

The French Petroleum Industry Union stated France has enough stockpiles to last 10 to 20 days of “normal” consumer demand. The French strike is in response to company plans to cut refining capacities in France and expand in the Middle East.

“Depending on how long the strike in France lasts, it could shorten future supplies at the same time demand starts to pick up in the coming months,” said Jessica Brady, AAA public relations specialist. “We saw retail gasoline prices inch up slightly in the latter half of last week and it’s very likely we will see prices continue to increase in the coming week.”

Crude oil closed on the New York Mercantile Exchange (NYMEX) at $78.19 a barrel.

The national average price of unleaded regular gasoline is $2.64 per gallon and Tennessee’s average price is $2.51 per gallon, both reflecting a two-cent increase from last week. Georgia’s average price of $2.55 increased by five cents in the past week and Florida’s average price of $2.68 increased three cents, respectively.

CURRENT AND PAST PRICE AVERAGES



Regular Unleaded Gasoline



Current Week Ago Month Ago Year Ago

National: $2.642 $2.620 $2.727 $1.925

Florida: $2.688 $2.657 $2.782 $1.978

Georgia: $2.552 $2.507 $2.640 $1.802

Tennessee: $2.512 $2.496 $2.638 $1.791



AAA’s Daily Fuel Gauge Report (fuelgaugereport.com) is updated each day and is the most comprehensive; reflecting actual prices from credit card transactions within the past 24 hours at two-thirds (100,000 stations) of the gasoline stations in the U.S. Its accuracy is unparalleled.

How much are you paying for gasoline taxes in Florida/Georgia/Tennessee? Use this link: http://www.aaasouth.com/acs_news/gas_taxes.asp to find out.

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