JACKSONVILLE, Fla. – AAA estimates 5.8 million people will be driving to their holiday destinations this year, and lower gas prices are an early present for drivers.
On Monday, Florida’s average price of gas per gallon is $3.03, according to AAA. Gas prices in the state dropped 12 cents per gallon last week.
Florida’s average price of gas per gallon has now dropped for five consecutive weeks, falling a total of 54 cents per gallon since mid-November, the report said.
“The plunge at the pump is the result of falling oil prices, which have plummeted primarily due to market concerns about a global economic recession,” said Mark Jenkins, Public Relations Manager at AAA. “Lower oil prices lower the cost of producing gasoline. These low gas prices should hang around through the end of the year, unless oil prices unexpectedly rebound.”
This decline in prices is due to the price of oil settling at $92.61 per barrel on Nov. 4.
Since that time, oil declined by as much as 23%.
Last week, the price of crude increased by 5%. Friday’s daily settlement of $74.29 per barrel is $3.27 per barrel more than the week before. While that could slow the rate of falling prices at the pump, it’s unlikely to be enough to cause a significant increase.
If you want to search for daily gas prices you can visit Gasprices.aaa.com