Gas prices jump double digits in two weeks

October 15, 2010 5:44:58 AM PDT
Gas prices have gone up 14 cents since October 1st, according to AAA Mid-Atlantic.

The national average price of regular grade gasoline began the month at $2.69 a gallon, only to increase 14 cents in two weeks to $2.83 Friday.

That price is 34 cents higher than year ago prices, yet still $1.28 below record high prices set two years ago, AAA said.

RELATED: Check gas prices by zip code

The Philadelphia 5-county area gas average rose 9 cents from last Friday to $2.86 today. Diesel rose 4 cents from last Friday to $3.30.

Pennsylvania gas average rose 8 cents from last Friday to $2.85 today. Diesel rose 4 cents from last Friday to $3.24.

South Jersey gas average rose 9 cents from last Friday to $2.68 today. Diesel rose 4 cents from last Friday to $2.96.

Delaware gas average rose 9 cents from last Friday to $2.80 today. Diesel rose 9 cents from last Friday to $3.09.

National gas average rose 5 cents from last Friday to $2.83 today. Diesel rose 4 cents from last Friday to $3.10.

According to AAA, crude oil prices have generally pushed higher throughout the month and although this week prices seemed to see-saw a bit, oil continued to trade above the $80 mark.

The organization also said that stronger stocks and a weaker U.S. dollar, which dropped to its lowest this year against many currencies, in addition to China's increased oil imports, continued to contribute to oil's late-week strength.

The weakness of the U.S. dollar is viewed as perhaps the strongest factor contributing to recent growth, since oil is priced in dollars a weak dollar makes crude cheaper for those using other currencies to purchase it.

RELATED: AAA Mid-Atlantic


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