Gasoline prices rose by abut a nickel a gallon over the past month, boosting the average price per gallon of unleaded to $2.66 across Florida and nationally.
The steady upward move by gas prices is coming as U.S. demand remains flat while OPEC is forecasting falling demand, according to AAA. With sufficient supplies on hand and U. S. refineries reducing their output, federal oil industry analysts said OPEC members have begun reducing exports to the U. S. Meanwhile, gas prices are continuing to climb.
In his weekly news release, Gregg Laskoski, managing director of public relations for AAA Auto Club South said the declining value of the dollar is a major factor in gas prices.
“The dollar has lost value over the past five months versus many currencies, but most notably against the Euro, the Japanese Yen and the British Pound," Laskoski said. "The decline is prompting investors and world banks to move into other currencies they believe hold greater security. It is also prompting deeper investment into commodities as a hedge against the weak dollar and the largest commodity market is crude oil."
