Fuel spike set

Published 12:56 am Wednesday, November 10, 2010

Expect higher prices at the pump here in Selma in the next few weeks as gasoline for December delivery rose 0.65 cent to $2.185 gallon the New York Merchantile Exchange Tuesday, the highest since Aug. 3.

How long and how hard the consumer will be affected at the pump is uncertain. The Energy Department will release its Weekly Petroleum Status Report today, which will give more of an indicator, analysts said.

Here in Alabama, average retail gasoline prices have risen 5.1 cents a gallon in the past week, averaging $2.69 per gallon, which is lower than the general cost of regular gas per gallon at most stations in Selma.

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The lowest gas price found in Selma Monday was Southern Pantry 8, 406 U.S. Highway 80 E., at $2.659 per gallon.

The average per gallon for regular unleaded was $2.699 and included pumps at

Cougar Mini Shop No. 3, 1900 W. Dallas Ave., Marathon, 4813 U.S. Highway 80 E; Reals BP, 3025 Ala. Highway 41; wMurphy USA, 1501 ½ Ala. Highway 14 E; Cougar Mini Shop No. 14, 2301 Broad St.; Raceway 885, 207 Highland Ave.; and the Chevron, 4865 US Highway 80 E.

The highest price reported Monday was $2.839 per gallon reported at Junction BP, 1830 Ala. Highway 14 E; Mr. Roys Convenience Store, 1505 W. Highland Ave.; Mr. Roy’s , 1917 W. Dallas Ave.; Mr. Roys, 1711 W. Dallas Ave. and Mr. Roys, 2601 Citizens Parkway.

That compares with the national average that has increased 5.4 cents per gallon in the last week to $2.85 per gallon, according to Patrick DeHaan a senior petroleum analyst for GasBuddy.com, which examines gas prices weekly in the state.

Including the change in gas prices in Alabama during the past week, prices Monday were 15.6 cents per gallon higher than the same day a year ago and 2.9 cents per gallon higher than a month ago.

The national average has increased 6.1 cents per gallon during the last month and stands 20 cents a gallon higher than this day one year ago.

“Last week we saw oil prices surpass $87 per barrel after the Federal Reserve announced a $600 billion injection into the U.S. economy, causing the U.S. dollar to lose value, thereby pressuring oil and gasoline prices higher,” DeHaan said.

He said in addition to the Fed’s actions, a Department of Energy report indicated another drop in U.S. supplies against rising demand.