Florida Gas Prices Drop to Lowest Since August: AAA

Florida Gas Prices Drop to Lowest Since August: AAA

Florida Gas Prices Drop to Lowest Since August: AAA

August 30 is the date when gas prices began to rise in anticipation of Hurricane Harvey and the effect it would have on refineries in the Gulf Coast.

GasBuddy.com's latest report over the weekend said the average price for a gallon of unleaded in IN is two dollars and 48 cents.

The cost of gas has now declined for five straight weeks, AAA said, as refineries are producing more than drivers are buying.

"Gulf Coast refineries have completely recovered from the effects of Hurricane Harvey, and are now flooding the market with fuel in anticipation of strong demand during the year-end holidays", said Mark Jenkins, spokesman for AAA - The Auto Club Group.

"Forty-four percent of the Washington metro area's 6,131,977 residents plan to take a trip for the Christmas/New Year's holiday travel period with 91 percent of them traveling by vehicle", said John B. Townsend II, AAA Mid-Atlantic's Manager of Public and Government Affairs.

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The current gas price is 25 cents above where it was a year ago. Prices at the pump have been estimated to drop as much as eight more cents by Christmas Day.

Christmas Day gas prices are expected to be the highest since 2013, according to a projection from GasBuddy. IN was the lone state with prices advancing an average of 3.6 cents per gallon due to price cycling last week Tuesday. In Pennsylvania, the average gallon of gas was $2.44.

Average pump prices dropped 2 cents in each state around the region.

"As long as demand for gasoline continues to weaken, gasoline inventories will continue growing and it'll be the gift that keeps on giving", added Patrick DeHaan, a senior market analyst for GasBuddy.

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