Florida gas prices dropped 13 cents per gallon last week. Sunday's state average was $3.33 per gallon. That's the lowest daily average price since June 19th.
"Drivers got some relief at the pump last week, thanks to big drops in the price of crude and gasoline futures," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Fuel prices had fallen under downward pressure amid concerns of a global recession. However, futures prices regained some ground last week, on renewed economic optimism, which could lead to a slight bump at the pump."
Until last week, the U.S. price of crude had been on a 4-week streak of declines. During that period, oil prices dropped 13%. Last week, prices rose 5%. Friday's closing price of $76.84 per barrel is still well below the mid-$80 range oil was in last month.
According to our partners at OPIS, oil rose last week on a weaker dollar, expectations of a September cut in U.S. interest rates and ongoing fears of a widening conflict in the Middle East. Additionally, traders were bullish on Thursday's decline in weekly U.S. jobless claims, which was enough to offset concerns of a global recession - which had previously weighed on fuel prices.
Visit GasPrices.AAA.com to view state and local average gas prices
AAA GAS PRICE AVERAGES |
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Sunday | Saturday | Week Ago | Month Ago | One Year Ago |
National | $3.445 | $3.450 | $3.474 | $3.544 | $3.841 |
Florida | $3.328 | $3.348 | $3.461 | $3.547 | $3.764 |
Georgia | $3.234 | $3.240 | $3.287 | $3.390 | $3.642 |
Click here to view current gasoline price averages |
Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.
About AAA - The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 U.S. states and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 64 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.
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