News Column

Mideast Turmoil May Roil Gas Prices

Nov. 20, 2012

Although gas prices are expected to fall throughout the Thanksgiving holiday, the rate of decrease is expected to slow as renewed violence in the Middle East has raised new concerns of a supply disruption in the region, experts say.

Facts

Average regular unleaded gasoline prices

Current

National: $3.416

Florida: $3.335

Week Ago

National: $3.437

Florida: $3.357

Month Ago

National: $3.692

Florida: $3.651

Year Ago

National: $3.370

Florida: $3.377

Source: AAA

"Whenever violence escalates in the Middle East as it has with Israel and its surrounding countries, oil prices are sure to increase," said Jessica Brady, AAA spokeswoman, The Auto Club Group.

"In the short term, Thanksgiving travelers shouldn't see gas prices spike before the holiday, but instead may see prices remain relatively flat," she said.

If Mideast tensions are eased, motorists can expect gas prices to decrease as initially forecast throughout the end of the year.

A barrel of oil closed Friday at $86.67--60 cents more than the week prior.

The national average price of regular unleaded gasoline is $3.42, 2 cents less than last week. Florida's average of $3.33 dropped 3 cents from last week. Georgia's average price of $3.25 increased 2 cents from last week, respectively. ht=1>



Source: (c)2012 the Ocala Star-Banner (Ocala, Fla.) Distributed by MCT Information Services


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