Florida Average Gas Price Up 16 Cents | Transportation

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Florida Average Gas Price Up 16 Cents
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As unrest in the Mideast and Libya continued to escalate last week, so did the price of crude oil. For the first time since September of 2008, the price of oil closed above $100 a barrel.

Protests in Libya continue to cause concern the unrest will spread to larger oil producing countries and disrupt oil supply. In addition, reports showing the U.S. unemployment rate fell to 8.9 percent, the lowest level since 2009, also drove up the price of oil.

“Although the unrest in Libya has not yet spread to larger oil producing countries and has not further disrupted oil supply, the concern of a supply shortage remains,” said Jessica Brady, spokesperson, AAA Auto Club South. “Retail gas prices will continue to increase again this week and many motorists will see prices at or above $3.50 a gallon.

“Now is the time for consumers to start applying those fuel-efficient measures in an effort to get every mile out of each gallon of gas.”

Crude oil closed Friday at $104.42 a barrel on the New York Mercantile Exchange—$6.54 more than last week.

The national average price of regular unleaded gasoline is $3.50 per gallon, an increase of 15 cents from last week. Florida’s average price of $3.54 increased 16 cents. Georgia’s average price $3.43 also rose 15 cents from last week. And, Tennessee’s average price of $3.37 increased 14 cents from last week, respectively.

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