News Column

BRIEF: Price of gas continues its slow summer slide

June 2, 2014

Ocala Star-Banner, Fla.



June 02--Gas prices in the Southeast dropped slightly last week, and the slide is likely to continue in the near future, experts said Monday.

"Fundamentals are putting downward pressure on the price of oil," said Mark Jenkins, spokesman, AAA -- The Auto Club Group. "Motorists could see prices fall at a faster rate in the coming weeks."

The price of oil fell for the first time in four months because of increased supplies, decreased consumer spending and easing geopolitical tensions. Crude oil stockpiles reached their highest level since 1982.

The national average price of regular unleaded gasoline is $3.67, 1-cent more than last week, according to AAA. Florida's average of $3.60 declined 2 cents from last week, Georgia's average of $3.59 slipped 1-cent.

In Gainesville, the average price on Monday was $3.75, down 1 cent from last week, according to the website www.GasBuddy.com. In Ocala, the average price was $3.60, down from $3.61 last Monday.

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(c)2014 the Ocala Star-Banner (Ocala, Fla.)

Visit the Ocala Star-Banner (Ocala, Fla.) at www.ocala.com

Distributed by MCT Information Services


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Source: Ocala Star-Banner (FL)


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