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Gas prices to stay stable for now | News

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Gas prices to stay stable for now
Gas prices to stay stable for now

Tampa, FL -- AAA Club South reports retail gasoline prices remain stable as the price of a barrel of oil neared $100 again after multiple reports were released last week that showed positive acceleration for the U.S. economy.  Single-family home purchases rose in November to a seven-month high as U.S. unemployment claims fell by 4,000 to 364,000 last week, reported the U.S. Labor Department.

At the same time, U.S. stockpiles of crude oil decreased by 10.6 million barrels and consumer sentiment rose to 69.9 from 64.1 at the end of November, according to a Thomson Reuters/University of Michigan report. Crude oil settled Friday at $99.68 a barrel on the New York Mercantile Exchange—$6.15 more than the week prior.

"Although the national average for a gallon of gasoline rose one cent, state prices in the Southeast remain stable with no increase," said Jessica Brady, AAA spokesperson, The Auto Club Group. "However, the rate of decrease at the pump may begin to slow as we approach the New Year and the market rallies as more uplifting economic news is released."

Average retail gasoline prices in Tampa fell 1.6 cents per gallon in the past week, averaging $3.16/g yesterday. This compares with the national average that has increased 0.8 cents per gallon in the last week to $3.23/g, according to gasoline price website TampaGasPrices.com.

Including the change in gas prices in Tampa during the past week, prices yesterday were 15.8 cents per gallon higher than the same day one year ago and are 6.9 cents per gallon lower than a month ago.

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