Crude prices increase, pump prices follow

Crude prices increase, pump prices follow
# 27 December 2008 08:52 (UTC +04:00)
Baku. Vahab Rzayev-APA. Economics. Sacramento-area gas prices inched up almost a penny Friday, but remain at the lowest level in almost five years, according to AAA and the Oil Price Information Service.
The average price increased to $1.812 per gallon for regular unleaded, compared to $1.805 on Sunday, and lower than the $1.95 a month ago — or $3.22 a year ago. The region’s record is $4.57 on June 17.
Sacramento continues as one of the cheapest regions at the pump, compared to the Central Coast and Central Valley.
Statewide, the average price increased slightly to $1.82 Friday, compared to $2.97 a month ago and $3.27 a year ago.
Light, sweet crude rose $2.36 — a 6 percent-plus increase — to $37.71 a barrel on the New York Mercantile Exchange. But oil prices are down dramatically from just a few months ago.
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