Gas prices across Florida fall to a 5-month low
The average price of a gallon of gas is $3.79, down $1.10 from the record of $4.89 set on June 13.
Gas prices across the state have fallen to their lowest levels since early March.
According to AAA, says the average price of a gallon of gas dropped to $3.79 last week. That's down 14 cents from the previous week and $1.10 below the record price of $4.89 set on June 13th.
Mark Jenkins, spokesman for AAA, said the drop is due to falling oil prices, and reduced demand over concerns that the global economy is headed toward a recession.
"Falling oil prices and drooping gasoline demand has paved the way for the recent pump price plunge," Jenkins said in a news release. "The downturn should continue this week, after another round of big losses in both oil and gasoline futures markets."
Jenkins said some areas across the state could soon see prices fall below $3.70.
"The fuel market seems to be locked in bearish territory," Jenkins said. "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."
Motorists across the greater Tampa Bay region are paying an average of $3.73 a gallon.