Crude oil declines as unemployment hits 10.2% - WALB.com, South Georgia News, Weather, Sports

Crude oil declines as unemployment hits 10.2%

News release from the AAA

TAMPA, Fla. (Nov. 8, 2009) –   The economic recovery that is expected to push crude oil prices higher in 2010 got detoured last week when the U.S. Dept. of Labor reported the nation’s unemployment had topped 10% for the first time since 1983. 

On the New York Mercantile Exchange (NYMEX) crude oil traded above $80 per barrel for much of the week but with Friday’s news it closed at $77.43 per barrel.  Oil analysts reason that if people aren’t working, they’re not likely to consume more fuel.

The positive news for consumers is that retail prices have flattened, at least temporarily.

The national average price of unleaded regular gasoline has declined by 3 cents per gallon in the past week to $2.66 per gallon; Florida, Georgia and Tennessee average prices today have all declined from one week ago.  

Florida’s average price of gasoline declined by 1.8 cents and is now at $2.71 per gallon. Georgia’s average price declined by 3 cents per gallon and is now at $2.53; and Tennessee’s average price dropped by 2 cents per gallon and is now at $2.52.

“The price at the pump does not fully reflect the increase in October wholesale prices,” said Gregg Laskoski, managing director of public relations, AAA Auto Club South. “For now, it appears that retail margins are tightening and they have not yet passed along the entire 30-cents per gallon (on average) increase in October wholesale prices.”

 

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline

 

                                    Current           Week Ago      Month Ago     Year Ago

National:                    $2.669            $2.693             $2.471               $2.282

Florida:                      $2.711            $2.729             $2.423              $2.312

Georgia:                     $2.535            $2.565             $2.282             $2.141

Tennessee:                 $2.524            $2.544             $2.281              $2.164

 

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.

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • Early Co. Fire Dept. concerned about trees uprooting due to weather

    Early Co. Fire Dept. concerned about trees uprooting due to weather

    Sunday, May 27 2018 11:55 PM EDT2018-05-28 03:55:48 GMT
    Early County Fire Officials says they're prepared to respond to fallen trees in their area. (Source: WALB)Early County Fire Officials says they're prepared to respond to fallen trees in their area. (Source: WALB)
    Early County Fire Officials says they're prepared to respond to fallen trees in their area. (Source: WALB)Early County Fire Officials says they're prepared to respond to fallen trees in their area. (Source: WALB)

    Early County Fire Officials says they're prepared to respond to fallen trees in their area.  Saturation and projected high winds have officials concerned about trees uprooting.  

    More >>

    Early County Fire Officials says they're prepared to respond to fallen trees in their area.  Saturation and projected high winds have officials concerned about trees uprooting.  

    More >>
  • Baker Co. concerned with dirt roads during subtropical storm

    Baker Co. concerned with dirt roads during subtropical storm

    Sunday, May 27 2018 11:52 PM EDT2018-05-28 03:52:01 GMT
    Sherry Bailey, Baker County EMA Director said they have been working hard to make sure county dirt roads don't flood over. (Source: WALB)Sherry Bailey, Baker County EMA Director said they have been working hard to make sure county dirt roads don't flood over. (Source: WALB)
    Sherry Bailey, Baker County EMA Director said they have been working hard to make sure county dirt roads don't flood over. (Source: WALB)Sherry Bailey, Baker County EMA Director said they have been working hard to make sure county dirt roads don't flood over. (Source: WALB)

    South Georgia is full of dirt roads and in Baker County officials are concerned with the amounts of expected rainfall.  "Anytime we have a rain event, we are definitely concerned about people in the county being able to travel the dirt roads," said Sherry Bailey, Baker Co. Manager and EMA Director.   

    More >>

    South Georgia is full of dirt roads and in Baker County officials are concerned with the amounts of expected rainfall.  "Anytime we have a rain event, we are definitely concerned about people in the county being able to travel the dirt roads," said Sherry Bailey, Baker Co. Manager and EMA Director.   

    More >>
  • Early County prepared for flash flood watch

    Early County prepared for flash flood watch

    Sunday, May 27 2018 11:38 PM EDT2018-05-28 03:38:44 GMT
    Commissioner Jeffery Haynes said Early County is ready to respond in case weather get's worst. (Source: WALB)Commissioner Jeffery Haynes said Early County is ready to respond in case weather get's worst. (Source: WALB)
    Commissioner Jeffery Haynes said Early County is ready to respond in case weather get's worst. (Source: WALB)Commissioner Jeffery Haynes said Early County is ready to respond in case weather get's worst. (Source: WALB)

    County leaders Early County are keeping an eye on the flood watch...preparing for the worst.  The county's EMA Director has been watching the weather closely since Thursday in preparation for the storm.  

    More >>

    County leaders Early County are keeping an eye on the flood watch...preparing for the worst.  The county's EMA Director has been watching the weather closely since Thursday in preparation for the storm.  

    More >>
Powered by Frankly