MANATEE -- Motorists could find the lowest Labor Day gas prices in a decade.
The national average price for a gallon of regular unleaded was $2.56 on Wednesday – 88 cents cheaper than the price on Labor Day 2014, and lower than all Labor Day national average prices dating to 2004.
In Florida,the average price was $2.35 – $1.02 lower than last year’s holiday, and lower than all Labor Day average prices in Florida dating to 2005.
The price of oil continues to sink, putting downward pressure on gas prices. West Texas Intermediate dipped below $40 a barrel this week for the first time since February 2009. The closing price Tuesday was $39.31.
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“Low gas prices in Florida are in jeopardy of turning up due to Tropical Storm Erika,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Erika is forecast to make landfall in Florida as a category 1 hurricane, which could lead to regional supply issues causing gas prices to temporarily rise. The extent of the increase at the pump largely depends on the path and impact of the hurricane.”