Prices at the pump jumped 13 cents in Orlando and an average of 10 cents nationwide as news of more U.S. jobs in July sent oil prices soaring.
Just as analysts thought gas prices had stabilized, the price at the pump jumped 13 cents in Orlando and an average of 10 cents nationwide as news of more U.S. jobs in July sent oil prices soaring, motorist group AAA reports.
Last week, retail gas prices rose only 2 cents following a 10 cent increase in the previous week, which signaled some stabilization in the market. But oil prices spiked Friday after the Labor Department announced the U.S. added 163,000 new jobs in July and oil settled at $91.40 a barrel on the New York Mercantile Exchange ? $1.27 more than the previous week.
?Last week shows just how volatile the market is and how diverse the factors are that affect oil prices,? said Jessica Brady, AAA spokeswoman, The Auto Club Group. ?The forecasted stability in gas prices as we entered August ended up being another 10-cent increase at the pump. Motorists will likely see gas prices increase again this week.?
Statewide, Florida?s average price at the pump rose 11 cents to $3.53 and the national average price of regular unleaded gasoline rose 12 cents to $3.61. The average price per gallon in Orlando saw a 13-cent increase to $3.46.
See the full report here.
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Source: http://feedproxy.google.com/~r/vertical_16/~3/jYn8qcul1MY/jobs-numbers-send-gas-prices-soaring.html
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