Retail gasoline prices are expected to steadily increase into the summer, thanks to a rise in the price of crude oil as more data indicated the U.S. economy may be on the rebound.
The price of crude oil jumped to $84.87 on Thursday on the New York Mercantile Exchange.
Meanwhile, a pickup in manufacturing jobs and production was reported in the U.S., China, Japan and Europe, and is viewed as evidence of a rebound in international trade. In addition, U.S. companies added 162,000 jobs in March, with fewer Americans filing for unemployment, according to the U.S. Labor Department.
“We will most likely see crude oil stay above $80 a barrel for quite some time, causing retail gasoline prices to steadily increase into the summer,” said Jessica Brady, manager of public relations at AAA.
The national average price of regular retail gasoline is $2.82, a 2-cent increase from last week. Florida’s average price is $2.84, a 1-cent increase from last week, while Orlando’s average is $2.78, also up 1 cent from a week ago.
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