Economy

AAA: Florida is Seeing Lower Gas Prices at the Start of February

AAA: Florida is Seeing Lower Gas Prices at the Start of February”

Mark Jenkins, a spokesman for AAA and the Auto Club Group, said he expected prices to drop even further across the state in the days to come.

According to GasBuddy price reports, the cheapest station in Colorado is priced at $2.02/g today while the most expensive is $3.99/g, a difference of $1.97/g.

The West Palm Beach-Boca Raton area had the most expensive gas in Florida with an average of $2.53 a gallon followed by Miami at $2.47 and the Sebastian-Vero Beach market at $2.45.

The national average gas price, according to AAA, is $2.47 a gallon, "which is 4 cents cheaper than last week and 11 cents cheaper than the beginning of the year".

More news: Novel coronavirus cases surpass 20,000 in China

Gas prices in western Pennsylvania continue to sink both regionally and locally over the last week. "Crude oil prices are $10 less a barrel than one month ago and USA gasoline stocks sit at an all-time record high", said Mary Maguire, Director, Public and Legislative Affairs, in a press release. "When combined with higher stock levels, pump prices usually decrease in response". Today's national average is 11 cents less than this time last month, but 22 cents more expensive than previous year.

At the close of Friday's formal trading session on the NYMEX, WTI dropped by 58 cents to settle at $51.56. If market concerns regarding the virus continue to grow this week, crude prices could drop again.

AAA found a wide price range for regular, from a low of $2.25 per gallon to a high of $3.05.



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