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Sunday, Oct 19, 2014
Business News

Gas prices keep sliding in Tampa

Published:

— Gas prices continue to slide this week with motorists here and in cities like Memphis, Chattanooga and Orlando finding gasoline at or below $3.20 per gallon, according to AAA -The Auto Club Group.

“Motorists are reaping the benefits of booming domestic oil production, which has provided the cheapest gas prices for August in years,” said Mark Jenkins, spokesman for AAA-The Auto Club Group. “The price of oil declined slightly last week, so gas prices could slip even more this week.”

While tensions remain high surrounding the political situations in Russia and Ukraine and in Libya, none of these has disrupted the oil supply, Jenkins said. Ultimately, he said, despite these geopolitical headlines and because of increased domestic production, oil prices continue to trade near multi-month lows.

Florida’s current gas prices fall below the national average. Nationally, on Sunday, the average price for unleaded gas was $3.45 per gallon, according to AAA. In Florida, it was $3.35. That compares to a week ago when the national average was $3.47 and the Florida average was $3.36 per gallon.

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