AAA: Gas prices will continue to drop
Gasoline prices in Florida are expected to drop again this week as crude oil prices continue their downward trend for the third straight week amid concerns that Europe’s financial crisis will worsen, AAA said.
Crude oil closed Friday at $70.04 a barrel on the New York Mercantile Exchange.
In the past few weeks, the European crisis has pushed the value of the euro down 12 percent against the dollar and is one of the major factors that has caused the price of crude to decrease. At the same time, U.S. stockpiles of crude grew for the 15th week, AAA said.
“The possibility that Europe’s financial problems will slow global demand at a time when U.S. demand is already slow to rise has investors worried,” said Jessica Brady, manager of AAA public relations no credit check payday loans. “The lack of demand can be seen in the constant increase in U.S. stockpiles of crude that are now well above 362 million barrels.
“Lower retail gasoline prices are always welcomed by consumers, and they can expect to see just that as retail prices drop again this week.”
The national average price of a gallon of self-serve regular gasoline is $2.80, while Florida’s average is $2.79, bothof which reflect a seven-cent decrease from last week.
In Orlando, a gallon of self-serve regular averages $2.70, down 9 cents from a week ago.