Florida gasoline fall 8 cents this past week - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Florida gasoline fall 8 cents this past week

TAMPA, Fl. (AAA) -

 

The national average price of regular unleaded gasoline is $3.72, 6 cents less than last week. Florida's average of $3.63 dropped 8 cents from last week.

Pessimistic economic news across the globe caused the price of a barrel of oil to drop to its lowest settlement so far this year. Oil prices settled Friday on the New York Mercantile Exchange at $96.13 a barrel—$2.36 less than the week prior. The cost of a barrel of oil has not been this low since December.

 U.S. oil stockpiles are at their highest level in 21 years, according to the Energy Department, and output from OPEC remains at elevated levels.

"As a result of weakened demand, retail gas prices are expected to decrease throughout the week and continue May's downward trend in pump prices," said Jessica Brady, AAA Spokeswoman, The Auto Club Group. "Motorists are paying almost 30 cents less for a gallon of gas nationwide, than they did this time last year."

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