After Recent Surge, Gas Prices Expected To Fall This Week

By TBO.COM | Staff
Published: January 12, 2009

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TAMPA --

After last week's "inexplicable" increase in gasoline prices, the cost of fuel should start declining this week, according to AAA.

Despite falling oil prices, the price of gasoline surged last week. In the Tampa Bay area, retailers are charging $1.78 on average for a gallon of regular unleaded, up from $1.64 a month ago.

"The past week showed a disconnect that is difficult to explain," said AAA spokesman Gregg Laskoski. "It's rare when retail gasoline prices are not moving in the same direction as crude oil prices. Given current supply and demand, they should both be decreasing."

Although crude oil surged to $49 a barrel early last week in response to the conflict in Gaza, it finished the week at $40.83 a barrel.

"We should expect to see retail gasoline prices decline this week, barring any major disruptions to the oil infrastructure," Laskoski said.

Reporter Russell Ray can be reached at (813) 259-7870 or rray@tampatrib.com.