TAMPA, Fla. — The sticker price for gas continues to decrease daily in Florida. According to AAA, over the past three weeks, gas prices have decreased by 20 cents.
The state's average gas price has dropped three weeks in a row since August 27. Since mid-June, prices have decreased by a total of $1.47 a gallon. As of right now, the average gallon price for gasoline is $3.409, which is the lowest daily average price since February of this year.
"Crude oil and gasoline futures finished the week slightly lower than the week before, on ongoing concerns that a global recession and potential U.S. interest rate hike could stifle global fuel demand," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "This should enable gas prices to slip even lower this week."
Crude oil is traded on the market at various rates based on supply and demand.
At the moment, demand is low, thus its price has been declining, similar to how the cost of gas has.
Recommended
- Inflation rate slows as lower gas prices keep overall costs at bay
- Gas prices are falling at a historic rate. Here's why experts say it will continue
- OPEC scales back oil production, not projected to raise gas prices
Americans drive less during the winter season and as the U.S. gas supply switches over to winter blend fuel, gas prices will decline more.
For drivers in Florida, the average 15-gallon tank of fuel costs $51, $22 less than gas prices in the middle of June, when they hit a record high of $4.89 per gallon.
The average cost for Tampa, St. Petersburg and Clearwater on Monday, Sept. 19 was $3.386 for regular gas.
