Are Gas Prices Affecting Automobile Sales in Miami?

Oct. 27, 2009 - PRLog -- The fluctuating price of gas has affected many markets through out the United States, especially the auto industry. According the American Automobile Association the average price for regular unleaded on Monday was $2.671 up from $2.564 a week earlier and $2.512 at this same point in September. Only a year ago we saw the average price for a gallon of regular unleaded gas at $2.699. It was also in July 17 of 2008 that we saw the average price of gas go up to an ultimate high of $4.111. The soaring gas prices haven’t made it easier these summer months either. People are so dependent on their vehicles this time around that it leaves them with no choice but to purchase gasoline at the regular price in Miami.
Sources say that crude oil had been holding at about $60 per barrel during the summer months and into early fall. Things have started to change slowly since then, as can be seen by the price for a barrel of oil this Monday priced at $82. "A weakening dollar could put significant pressure on dollar-denominated oil prices in the months ahead," Bank of America Merrill Lynch said, "The combination of surging money supply, a rapidly weakening dollar and a cyclical improvement in oil demand could push oil prices above $100."

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