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Gas Prices Creeping Back UpBut still down five cents a gallon from a month ago | ||||||||
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By Mark Huffman October 16, 2009
The average price of self-serve regular gas today is $2.501 a gallon, up about three cents from last Friday, according to AAA. But its still more than a nickel a gallon lower than it was a month ago. The national average price of diesel fuel today is $2.641, less than two cents higher than a week ago. Andrew Delmege, AAA's manager of regulatory affairs, says prices continue to be influenced by non-fundamental factors, such as expectations for economic recovery and an ever-weakening dollar. "The weakening dollar continues to play a prominent role in the movement of market oil prices. As the US dollar weakens, it has trended so since March of this year, foreign investors move to buy oil for a relative bargain because it is priced in the dollar. In general terms, this can help drive up the price of oil. The best buy on gasoline this week is found in South Carolina, where the average price is $2.269 a gallon, followed by Missouri, where the statewide average price is $2.282 a gallon. Alaska has the most expensive gas in the nation this week, with a statewide average of $3.362. California's average price is hovering just above the $3 level, with an average price of $3.012 a gallon. San Francisco has the state's most expensive gas, at $3.16 a gallon. Yolo has the cheapest gas, at an average price of $2.888 a gallon. Meanwhile, crude oil prices closed above $77 a barrel Thursday, its highest close of 2009. Oil prices are moving up in spite of large stockpiles of petroleum products and only modest increases in demand. Report Your Experience
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