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Lower Pump Prices Expected This Week

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By RUSSELL RAY

rray@tampatrib.com

Published: January 13, 2009

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," AAA spokesman Gregg Laskoski said. "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 the Gaza Strip, 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.

Russell Ray

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