Current Gasoline and Oil Prices Fall

The prices of oil and gasoline fell again during the previous week as the Department of Commerce in the U.S. reported a decline in retail sales, while costumer sentiment reached its lowest in nine months, according to the American Automobile Association (AAA).

At the national level, the current gasoline price average of regular unleaded reflects a fall of 7 cents to $3.53 a gallon. In Orlando, the price of gasoline is 6 cents lower to $3.41 a gallon. During this period last year, the price of gas in Orlando was averaging $3.90 a gallon, according to the AAA report.

The crude price per barrel also moved lower, with each barrel ending last week’s trading at $91.61 on the New York Mercantile Exchange (NYMEX). That rate is lower by $1.09 compared to its level during the prior week.

In spite of the negative news surrounding the economy, drivers will most likely be pleased to realize that the gasoline prices today are anticipated to keep on falling as the driving season in the summer is about to begin.

The prices of oil and gasoline will most probably maintain their respective falling trends until the figures on the economy are reported to be stronger, according to Jessica Brady, the spokeswoman of the AAA. According to the auto club, even if the news about the economy is not so good, drivers will welcome the lower prices at the pump as the driving season during the summer starts.