Gasoline prices continue to fall in Florida - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Gasoline prices continue to fall in Florida

TAMPA, Fl. (AAA) -

The national average price of regular unleaded gasoline is $3.42, 8 cents less than last week. Florida's average of $3.26 fell 6 cents.

Oil prices dropped below $80 last week for the first time in almost 10 months after reports forecasted a continued bleak economic outlook. The U.S. Energy Department forecast oil demand in the U.S. and Europe will fall for the second year in a row after the first half of 2012 reflected slower growth than initially expected. Oil stockpiles are at their highest level in 22 years and increased by 2.9 million barrels last week to 387 million barrels. 

"At this point, retail gasoline prices are forecast to continue their decline into the heart of the summer travel season," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Even if economic stimulus measures are put into place, it's going to take time for a recovery and demand numbers to rebound. While it's not good news that has caused oil and gas prices to fall, it does provide relief to motorists who expected to pay $4 or more for a gallon of gas this summer." 

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