News Column

AAA: Gas Prices Will Continue to Decline

Nov. 6, 2012

Gas prices are expected to continue dropping into the holiday season, according to AAA's weekly Fuel Price Brief.

Average price for a gallon of regular gasoline

U.S.

Current: $3.470

Week ago: $3.543

Month ago: $3.806

Year ago: $3.415

Florida

Current: $3.421

Week ago: $3.508

Month ago: $3.679

Year ago: $3.394

The devastation from Hurricane Sandy is contributing to the price decline, according to the auto club, because is has caused a drop in demand in the Mid-Atlantic and Northeast regions.

"U.S. oil supplies are expected to increase again this week as fewer people travel to and from work and many areas are without power," according to AAA's weekly Fuel Price Brief.

"As the U.S. handles the aftermath of Sandy, European leaders still struggle with the debt crisis that recently bolstered the value of the dollar, which helped push oil prices lower."

The nationwide average price of regular unleaded gasoline dropped by 7 cents in week to $3.47 on Monday, according to AAA. In Florida, the average price dropped more than 8 cents to $3.421.

In Ocala, prices were in the $3.20-$3.25 range at some stores, according to Gasbuddy.com, which relies on reports from volunteers.

The average price per gallon in Gainesville was $3.563 on Monday, according to AAA. Gasbuddy reported prices as low as $3.32.



Source: (c)2012 the Ocala Star-Banner (Ocala, Fla.) Distributed by MCT Information Services


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