Pump prices continue to slide


Published: Monday, July 14, 2014 at 10:47 a.m.
Last Modified: Monday, July 14, 2014 at 10:47 a.m.

The price of oil continued its three-week slide last week, pushing pump prices to their lowest level in months.

Facts

CURRENT AND PAST PRICE AVERAGES
Regular Unleaded Gasoline

National
Sunday: $3.617
Saturday: $3.623
Week Ago: $3.656
Month Ago: $3.649
Year Ago: $3.582
2014 Peak Price: $3.70 (2/28)

Florida
Sunday: $3.558
Saturday: $3.564
Week Ago: $3.593
Month Ago: $3.567
Year Ago: $3.520
2014 Peak Price: $3.76 (4/18)

Georgia
Sunday: $3.523
Saturday: $3.528
Week Ago: $3.562
Month Ago: $3.537
Year Ago: $3.437
2014 Peak Price: $3.70 (4/30)

Since last week, the national average price fell 4 cents to $3.62, the cheapest price since April.

"Oil prices hit a free-fall at the end of last week," Mark Jenkins, spokesman for AAA - The Auto Club Group, said Monday. "As a result, motorists in the southeast could see prices at the pump fall 10 to 20 cents in the next two weeks."

The average price for a gallon of regular unleaded gasoline in Florida is 3 cents cheaper than last week and the lowest since March 25. In Georgia, the average price is 4 cents cheaper than last week and the lowest since April 7.

In Gainesville, the average price on Monday was $3.64, down from last week’s $3.67, according to the website GasBuddy.com. In Ocala, the average price was $3.55, down 5 cents from last Monday.

Oil settled at its lowest price in two months on the NYMEX as U.S. stockpiles increased last week. The price for a barrel of oil settled at $100.83 Friday, a $3.23 decline from a week ago.

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