Fuel Price Brief for the Week of May 8 | Transportation

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Fuel Price Brief for the Week of May 8
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Oil prices dropped below $100 a barrel for the first time since February 25, to settle Friday at $97.18 a barrel on the New York Mercantile Exchange—$16.75 less than last week. The announcement of Osama bin Laden’s death immediately caused oil prices to drop $10 a barrel at the start of the week on speculation his death could ease some of the turmoil in the Middle East.

The national average price of unleaded regular gasoline is $3.96, 2 cents more than last week. Florida’s average price is $3.92 per gallon, 4 cents more than last week. While Georgia’s average price of $3.88 is 6 cents more than last week, and Tennessee’s average price of $3.77increased 2 cents from last week, respectively.

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