Gas prices could drop up to 10 cents per gallon in coming days

So, about all those warnings from petroleum analysts predicting gas prices would rise 30 cents per gallon by the end of March? That prices could hit $3 by Memorial Day weekend and the unofficial start of summer?

Never mind, at least for now.

That customary spring spike we’ve been expecting appears to be on hold as oil prices have hit their lowest levels – less than $49 per barrel – since late November.

Better yet, analysts are now saying we could see prices fall 5-10 cents per gallon because oil costs are falling and refinery production is strong.

That said, “This downward trend may only be temporary,” AAA spokesman Mark Jenkins said.

Regardless, falling gas prices are always welcome, especially this time of year.

On Monday, the average in the Bradenton-Sarasota area was $2.22 per gallon, according to AAA’s daily fuel tracker. That’s a one-cent drop from a week ago and three cents cheaper than a month ago.

This time a year ago, the area average was $1.85.

According to Gasbuddy.com’s daily survey of more than 300 area outlets, Manatee County stations were averaging $2.18 per gallon on Monday, while Sarasota County was at $2.25.

Nearby, drivers in Pinellas County were paying an average of $2.13, with those in Hillsborough slightly higher at $2.15.

“The annual spring rally at the pump could be less severe than expected,” said Patrick DeHaan, a Gasbuddy senior petroleum analyst.

DeHaan quickly cautioned that oil prices could start to spike again soon, and that the price at the pump would follow suit.

The Florida average of $2.27 on Monday was three cents less than the national average.

Tampa/St. Petersburg/Clearwater ($2.16), Orlando ($2.17) and Jacksonville ($2.18) continue to have the lowest average prices in the state.

South Florida – West Palm Beach/Boca Raton ($2.50), Miami ($2.43) and Fort Lauderdale ($2.43) – had the most expensive.

This story was originally published March 13, 2017 at 10:19 AM with the headline "Gas prices could drop up to 10 cents per gallon in coming days."