Gas prices rise as economy starts to turn
DELRAY BEACH — Gasoline prices have surged over the past week, and that might be a good thing.
The U.S. Energy Information Administration put the national average price of a gallon of regular at $2.24, up from $2.075 a week ago and $2.005 a month ago.
In Florida, gasoline is averaging $2.232 a gallon, up from $2.065 a week ago and $2.005 a month ago.
AAA put the Palm Beach County average at $2.308 Monday, up from $2.171 a month ago. As has been the case, it’s the highest average price among Florida’s metro areas. Miami was second at $2.30; Orlando had the cheapest gas, at $2.19.
Why might higher gasoline prices be a good thing? EIA in its monthly energy outlook said the sudden surge followed reports that indicated the economy is nearing a turning point and that demand is rising.
EIA sees crude oil averaging about $55 a barrel for the remainder of the year; it was above $58 late Monday. Gasoline should average about $2.21 for the summer. Gas should average about $2.30 a gallon in 2010.
The forecasts are based on the economy stabilizing and that a modest recovery begins later this year and continues through next year.
Meanwhile, diesel prices also are on the rise, averaging $2.126 a gallon, nationally, up from $2.186 a week ago.
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