Retail gasoline prices are at their highest level in 15 months. Frigid weather, a weak U.S. dollar, rising crude oil prices and scheduled refinery shutdowns all contribute to higher prices at the pump, said AAA Auto Club South in a release. “It doesn’t help that the dollar is weakening at the same time refineries have begun planned shutdowns for seasonal maintenance,” said Gregg Laskoski, managing director of public relations for AAA Auto Club South. “This occurs just about every year at this time because demand for gasoline and diesel is traditionally pretty weak in January and February.” A weak dollar encourages traders to pour money into commodities as a hedge against inflation, the release said. Gas prices in Tampa Bay averaged $2.71 a gallon, up from $2.61 a month ago and a dollar more than the $1.71 average a year ago. Wholesale gas prices re up by nearly 15 cents a gallon, said AAA South, citing Retail Fuel Watch. Gasoline prices have been pushed higher by stronger oil futures prices. The U.S. average price of unleaded regular gasoline is slightly higher than in Tampa Bay at $2.74 per gallon, up 8 cents in the past week. Average prices in Florida ($2.78), Georgia ($2.66) and Tennessee ($2.63) have increased by 10 cents, 13 cents and 11 cents, respectively, this past week. Crude oil on the New York Mercantile Exchange closed Friday at $82.75 a barrel, the AAA release said.

Source