Drivers in Florida may soon see some relief at the pump as American Automobile Association says gas prices across the state have fallen. Officials say prices are moving lower after oil and gasoline futures suffered big weekly drops.
Right now, the national average price for regular unleaded gas is back below $5 a gallon. AAA says the state average won't make it that high – at least for now.
The state's gas prices averaged at $4.82 a gallon on Sunday, with the state average declining seven cents last week, "after reaching an all-time high of $4.89 per gallon."
"If this downward trend holds, gas price drops could accelerate, moving the state average back around $4.50 per gallon," Mark Jenkins, spokesman, AAA - The Auto Club Group said in a statement. "But this fuel market remains extremely unstable, and things can change very quickly. It's looking less likely that the state average will surpass $5 a gallon, but the driving season is young."
The U.S. price of oil dropped 9% last week, according to AAA. Friday's settlement of $109.56 per barrel is $11.11/b less than the week before. Gasoline futures lost 38 cents on the week, for a combined 2-week loss of 46 cents.