Fuel Gauge

Gas Prices Appear To Level Off

After falling steadily for several weeks, retail gasoline prices perform to have leveled off this week, according to AAA's daily Fuel Gauge Report. After hitting $1.461 per gallon on Wednesday, the middling price of self-serve regular gas rose to $1.47 a gallon Friday.

That's scarcely a penny cheaper than last Friday and more than 20 percents less than the common price a month ago. A year ago, the average price was fitting over $4 a gallon.

Oil prices have begun to show new strength, along with the clich market. Andrew Delmege, AAA's manager of regulatory affairs, says the two are interconnected.

"As was also suggested in last week's report, the current trend seems to be that the charge of oil is following the direction of the market," Delmege said. "When certain economic signs emerge that suggest the recession may be waning, the payment of oil climbs. When investors get signals that the global economy has a way to go until it clears the depression the price of oil remains steady or drops. This dynamic will seemly remain in place for the rest of the summer."

Source: Consumer Affairs

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