Business & Tech
Gas Prices Down as Crude Oil Prices Climb
The cost to fill up dropped slightly over the last week despite crude oil prices jumping for the fourth straight week, AAA reports.
While crude oil prices increased for the fourth straight week, the cost to fill up your vehicles actually went down slightly, according to the latest AAA survey.
The survey reported that the cost for regular unleaded was $3.45 a gallon nationally on Sunday, down a cent from a week ago. Also, the price for regular unleaded in Maryland was $3.40 a gallon, down a cent from a week ago, according to AAA.
This decrease came as the price of crude oil climbed to $93.32 on Friday. This compares to $87.40 a week prior, according to AAA.
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Despite a slight dip in price on Friday, crude oil saw weekly gains for the fourth straight week, closing at $93.32 Friday.
“With positive economic news at home and abroad, confidence is slowly being restored in the global economy, abating fears of a double-dip recession,” AAA Mid-Atlantic spokeswoman Ragina C. Averella said in a statement.
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“Although analysts believe gas prices will average about $3.40 per gallon through Thanksgiving, continued economic progress and strength in the crude oil markets in the last two months of the year would result in gas prices creeping upward to mimic commodity market growth.”
Here are the cheapest gas prices in the Essex-Middle River area, according to MarylandGasPrices.com:
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