Florida gas prices fall in time for Labor Day weekend. They could drop even further
Motorists paid around 8 cents less than the previous week, and that trend could continue — at least in the short-term.
Drivers across Florida saw some relief at the gas pump during the Labor Day weekend.
That trend could continue for the near future.
According to a release from AAA, gas prices dropped last week to an average of $3.52 a gallon.
That's down 8 cents from the previous week 31 cents less than motorists were paying last month.
Mark Jenkins, spokesman for AAA, says prices could drop another 20 cents, but that savings may not last very long.
"Pump prices are falling after sharp drops in the oil and gasoline futures markets last week," Jenkins said. "The losses were fueled by growing concerns that a global recession and COVID-19 outbreaks in China would stifle global fuel demand.
"If sustained, this downturn could enable the state average gas price to eventually slip into the $3.30s.
However, Jenkins warns that those savings may not last very long after OPEC and Russia announced on Monday that it will cut production oil production for the first time in more than a year in an "effort to stabilize falling energy prices."
Motorists across the greater Tampa Bay region are paying an average of $3.48 a gallon.