The Biz Buzz

Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.

NOTICE: The Biz Buzz has moved.

With the launch of our new website, we've moved The Biz Buzz.
Visit the new section.

Gas prices headed up for new year?

Post by John Gillie / The News Tribune on Dec. 2, 2010 at 2:29 pm with No Comments »
December 2, 2010 2:29 pm

During a time of year when gasoline prices historically bottom out, average unleaded gas prices remain stubbornly above $3 a gallon in Tacoma.

That price, $3.046 a gallon, is 23.6 cents more per gallon today than it was on the same day last year, according to TacomaGasPrices.com.

Those prices could be a harbinger of more expensive fuel in the coming year. Goldman Sachs & Co. is predicting average crude oil prices of $100 a barrel next year. Already crude oil for January delivery rose yesterday to $86.75 a barrel on the New York Merchantile Exchange. That’s up 11 percent year-over-year.

Those higher crude prices, if sustained, will be working their pay to the pumps by mid-winter.

Credit the reviving economy here and in China with increasing demand for gasoline. The softness of the dollar versus foreign currencies is also contributing the dollar price rise, say analysts.

Leave a comment Comments
*
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part and abiding by these simple rules.

JavaScript is required to post comments.

Follow the comments on this post with RSS 2.0