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Economy / Business

Gas prices continue to fall in Florida, but at a slower rate than earlier predicted

Close-up of gas pump
Carl Lisciandrello
/
WUSF Public Media
Gas prices continue to drop across Florida, but not at the rate that had been predicted.

The average price of crude oil inched back up last year, slowing down a sharp decline that had been expected two weeks ago.

Gas prices continue to drop across Florida, but not at the rate that had been predicted.

The average price of a gallon of gas fell 3 cents last week, to an average of $3.27. That's the lowest daily average since mid-November.

But it was not as sharp of a fall as AAA had predicted two weeks ago, when it said prices could fall as much as 20 to 30 cents a gallon.

According to a news release, the average price of crude oil inched up last week as concerns over the omicron variant began to ease.

"After plunging two weeks ago, the crude market regained strength last week," AAA spokesman Mark Jenkins said in the release. "As a result, that 20-30 cent drop we were anticipating, could be more like 10-20 cents. Oil prices remain the main drivers of prices at the pump. So if oil prices increase again this week, drivers will again need to adjust their expectations."

Drivers across the greater Tampa Bay region are paying an average of $3.24 a gallon.

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