By South Florida Business Journal

Gas prices inched up a penny a gallon last week across the Sunshine State, but held relatively steady in the tri-county area, and are expected to remain steady again this week, according to AAA Auto Club South.

Floridaâ¿¿s average price for a gallon of regular unleaded gasoline is $3.14. South Florida prices are a bit higher, at $3.21 in West Palm Beach and $3.18 in Miami and Fort Lauderdale.

Oil prices fell last week after the Trans Alaska Pipeline was repaired, resuming the normal flow of oil. The repair, along with a lag in U.S. demand and an increase in oil stockpiles, caused crude oil to settle Friday at $89.11 a barrel on the New York Mercantile Exchange â¿¿ $1.43 less than the previous week, according to AAA.

"While investors flirted with oil prices above $95 a barrel, they have been unable to sustain a price higher than $92 during the month of January,⿝ AAA Auto Club South spokeswoman Jessica Brady said in a news release. ⿿This is not too surprising, since demand typically slows this time of year as consumers travel less.⿝

Copyright 2011 American City Business Journals

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