However, oil prices are expected to fall this week as economic conditions in the U.S. and Europe remain sluggish.
The European debt crisis has helped keep oil prices below $90 a barrel on fears the European Union will not be able to bail out countries such as Greece, which could further reduce global oil supply.
As a result, the value of the euro dropped against the dollar and decreased the appeal of crude oil as a commodity by increasing the value of the dollar. The price of crude oil settled Friday at $87.96 a barrel on the New York Mercantile Exchange—72 cents more than the week prior.
"Retail gas prices actually fell this week despite the markets volatility," said Jessica Brady, spokesperson, AAA Auto Club South. "Pump prices have stayed between $3.55 and $3.65 nationally and are expected to remain relatively the same this week. The market is expected to be volatile again this week as the European Union works to solve debt issues and the Federal Reserve meets to discuss economic conditions in the U.S."
The national average price of regular unleaded gasoline is $3.59 per gallon, 6 cents less than last week. Florida’s average price of $3.54 is 5 cents less than last week, while Georgia's average price of $3.46 reflects an 8-cent decrease from last week. Tennessee’s average price of $3.39 reflects a 7-cent decrease from last week, respectively.
Current and past price averages for regular grade gasoline: National: