Gas prices fall to lowest point in five months
Gas prices continue to fall by the week - they’re now at the lowest daily average price since early March.
Florida’s average is $3.79, which is 14 cents lower than last week. This morning, we spotted $3.49 at a station on Beach Boulevard.
The state average has now declined a total of $1.10 per gallon since setting a new record high of $4.89 on June 13th.
“Falling oil prices and drooping gasoline demand has paved the way for the recent pump price plunge,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “The downturn should continue this week, after another round of big losses in both oil and gasoline futures markets.”
The U.S. price for crude oil dipped below $90 per barrel last week, dropping to its lowest settlement price in 6-months.
“The fuel market seems to be locked in bearish territory,” Jenkins continued. “Florida drivers in some markets are beginning to find gas prices in the $3.60s, if not lower. The state average could very easily drop to that price point in the next week or two. However, it’s worth remembering that the fuel market has proven to be extremely volatile this year, and trends can change rather quickly if something reignites concerns about fuel supplies.”
