Pipeline repaired as gas prices climb - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Pipeline repaired as gas prices climb

TAMPA, Fla. (AAA Auto Club) - Oil prices moved lower last week after the Trans Alaska pipeline was repaired and resumed its normal flow of oil.

Last week, the Trans Alaska pipeline resumed its flow of more than 600,000 barrels a day, and the U.S. Energy Department reported a rise in crude stockpiles. Stockpiles rose more than 2.6 million barrels last week as demand slowed and fewer people traveled.

"While investors flirted with oil prices above $95 a barrel, they have been unable to sustain a price higher than $92 during the month of January. This is not too surprising since demand typically slows this time of year as consumers travel less," said Jessica Brady, spokesperson, AAA Auto Club South.  "Retail gas prices showed minor increases last week of no more than 2 cents a gallon and are expected to remain fairly stable again this week."

The national average price of unleaded regular gasoline is $3.11 per gallon, up 2 cents from last week. Florida's average price of $3.14.

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