AAA officials say that although price of gas fell again last week, oil prices quickly jumped after government reports showed U.S. jobless claims rose less than forecast.This news pushed a barrel of oil near $95, only to be countered by more pessimistic news about the economy says AAA.
After oil prices spiked, they quickly deflated after the Commerce Department said Gross Domestic Product grew less than expected in the first quarter of the year. Inventories of crude continue to climb beyond 20-year highs and U.S. oil production remains ample.
The Auto Club Group spokeswoman Jessica Brady says that the market is expected to be volatile this week, so it's likely motorists will see little movement in pump prices this week."(Gas prices provided by AAA)