Monday, November 04, 2013

Will Gas Prices Continue Downward Trend?

Average retail gasoline prices in Florida have fallen 3.5 cents per gallon in the past week, averaging $3.22/g yesterday, according to GasBuddy's daily survey of 8,237 gas outlets in Florida. This compares with the national average that has fallen 3.3 cents per gallon in the last week to $3.26/gallon.

Including the change in gas prices in Florida during the past week, prices yesterday were 17.9 cents per gallon lower than the same day one year ago and are 7.2 cents per gallon lower than a month ago. The national average has decreased 12.8 cents per gallon during the last month and stands 24.2 cents per gallon lower than this day one year ago.

"The downward movement in national gasoline prices has continued for yet another week, thanks to a fall in commodity prices," said Analyst Patrick DeHaan. "Oil prices continue to shed value, leading the way to lower gasoline prices. Five states- all in the nation's midsection- are now seeing their average prices under $3/gallon: Missouri, Oklahoma, Arkansas, Texas, and Kansas, and motorists in those states certainly have a "there's no place like home" advantage," DeHaan said

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