The average price of a gallon of regular unleaded gas in Florida dipped 6 cents during the past week as demand slowed after Fourth of July travel.
The average price was $3.40 a gallon on Monday. But the AAA auto club anticipates higher oil costs could result in increased prices at the pump.
“Gas demand has fallen nearly 10 percent since the holiday, as folks have returned to their day-to-day driving routines,” AAA spokesman Andrew Gross said in a prepared statement. “Typically, this would lower gas prices, but such a move is being countered for now by the increasing cost for oil, the main ingredient in gasoline.”
AAA said data from the Energy Information Administration indicates demand nationally decreased nearly 9 percent over the past week, domestic gasoline stocks stayed flat, and oil prices moved from the upper $60s per barrel into the mid-$70s.
“If oil prices continue to rise, pump prices will likely follow suit,” an AAA news release said. While Florida’s average gas price went down over the past week, the national average increased 3 cents to $3.57 a gallon.
Florida’s average was 2 cents lower than a month ago. The West Palm Beach and Naples metro markets had the highest average prices. The lowest averages were in the Panhandle.
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