Gas prices show minimal increase

While crude oil closed at its lowest price in seven weeks last week, gasoline prices posted a penny-per-increase.

The average gas price as of Monday, Dec. 7, in Brooksville is $2.63 per gallon, while the lowest price in Spring Hill is $2.61 according to gasbuddy.com.

According to a press release from AAA Auto Club South, both massive crude stocks increased six percent more than this time in 2008 while and gasoline stocks also increased 23 percent over the same period in 2008.

However, gasoline consumption shows only a nominal increase from 8.93 million barrels per day in the week ending Nov. 28, 2008 to 8.94 million barrels per day in the week ending Nov. 27, 2009.

During the past week, the national average increased by 1 cent per gallon. In Florida, Georgia and Tennessee, each state's average price also increased by 1 cent per gallon.

Analysts believe it was a strengthening dollar and massive crude oil supplies that led to crude oil's closing last week at its lowest price in seven weeks.

"Ordinarily, crude oil prices and retail gasoline prices move in the same direction," said Gregg Laskoski, managing director of public relations, AAA Auto Club South. "The national average wholesale price closed each week in November between $2.02 and $2.05 per gallon and retail fuel prices reflected that, but whether that price stability continues in December remains to be seen."