Gas prices at the pump were down a few pennies last week amid minimal gains in cruse oil prices. The price for regular unleaded was down in all three South Florida counties, according to the AAA South Fuel Gauge report:
Miami was down to $3.44 from $3.48.
Fort Lauderdale was down to $3.46 from $3.50.
Palm Beach was down to $3.48 from $3.51 to $3.48.
Oil prices made minimal gains last week after reports from the U.S. Department of Labor showed September payrolls increased by 103,000 workers, with an initial growth forecast of 60,000. U.S. oil supplies decreased more than projected last week, and fell about 4 million barrels. The positive news resulted in crude oil settling Friday at $82.98 a barrel on the New York Mercantile Exchange â¿¿ $3.78 more than the week prior. While economic woes in Europe continue, measures are being made to stimulate growth by making it easier for banks to supply loans. Last week is the first time in a month that positive economic news was released and caused oil prices to increase. "Retail gas prices fell for the past month as the price of oil continued to drop. Although oil prices increased last week, consumers will not likely see pump prices rise, but instead remain relatively unchanged from last week's averages," AAA spokeswoman Jessica Brady said. "The positive economic news released last week will likely serve as a band aid to temporarily ease investor concerns about the economy." The national average price of regular unleaded gasoline is $3.39 a gallon, 3 cents less than last week. Floridaâ¿¿s average price of $3.35 was 4 cents less than last week. Copyright 2011 American City Business Journals http://www.bizjournals.com/southflorida/news/2011/10/10/south-florida-gas-prices-fall.html?ana=thestreet