You can find regular gasoline for less than $2 a gallon at pumps scattered across Manatee County.
Gasoline prices in the Bradenton-Sarasota area fell 4.9 cents per gallon in the past week, averaging $2.07 a gallon Monday, according to GasBuddy's daily survey of 308 area gas outlets.
That outpaces the national average, which fell only 1.6 cents per gallon in the last week to $2.20 a gallon, according to gasoline price website GasBuddy.com.
Prices are 55.8 cents per gallon lower than the same day one year ago and are 17.9 cents per gallon lower than a month ago. The national average has decreased 13.8 cents per gallon during the last month and stands 55.7 cents per gallon lower than this day one year ago.
Statewide, prices averaged $2.14 a gallon, down 4.2 cents per gallon from last week's $2.18 a gallon.
"Summer travel is up, and yet, gas prices continue to decline? We know that seems perplexing for many, but that's exactly what's happening and it all comes down to those most basic fundamentals; supply & demand," Gregg Laskoski, senior petroleum analyst for GasBuddy.com, said in a release.
Although oil prices have remained low, they have the potential to increase this week depending on what happens in Turkey. Although the country is not a major oil producer, it is an important pipeline area. Oil prices generally rise during times of instability in the Middle East. So far, the impact on oil prices has been minimal, but if crude prices suddenly surge this week, pump prices could also rise, according to AAA experts.
Last week, the price of oil logged its lowest weekly average in two months. Daily settlements for a barrel of WTI reached as high as $46.80 on Tuesday and as low as $44.75 Wednesday. The weekly average of $45.59 is 56 cents lower than the week before and $2.69 lower than two weeks ago.
A number of factors could cause gas prices to rise again, AAA reported Monday. This includes an increase in the global price of crude oil due to disruption in supply, stronger than expected economic indicators or geopolitical tensions overseas; as well as domestic factors like refinery issues, production cuts due to lower prices, stronger than anticipated demand or hurricanes that impact distribution and production.