Business

Manatee County gas price reaches $3.12 a gallon level

MANATEE -- The national average price for regular unleaded gasoline has fallen 18 straight days, reaching Monday’s price of $3.20 per gallon, which represents a new 2014 low and is the lowest average for the Columbus Day holiday since 2010 when gas averaged $2.81 per gallon.

In Manatee County, the lowest price for a gallon of gas is $3.12 at Sam's Club, 5300 30th St. E.

The most expensive gallon of gas in Manat6ee County is $3.49 at Mobil, 430 Gulf Of Mexico Dr. in Longboat Key.

Today’s average U.S. price is 9 cents less than one week ago, 20 cents less than one month ago and 15 cents less than one year ago.

Drivers in six states are paying an average price below $3 per gallon to refuel with eight more states posting prices within a nickel of $3.

State averages fell by a dime or more last week in every state but Florida, where prices dropped 9 cents.

Motorists in Missouri saw the average price fall below the $3 threshold last Tuesday, and for the second week in a row are paying the nation’s lowest average price per gallon at $2.90.

Although the average price in Hawaii has fallen 4 cents over the past seven days, it continues to lead the market with an average retail price of $4.13.

Californians still pay the highest average at $3.60 in the continental United States followed by New Yorkers and Oregonians paying $3.52 per gallon.

Low demand combined with abundant supply has kept downward pressure on global oil prices.

Attention is now focused on whether the Organization of Petroleum Exporting Countries will alter production in order to influence prices higher when it meets at the end of November.

Additionally, while violence continues in Iraq, market watchers still assess the threat to oil production to be relatively limited. West Texas Intermediate crude oil settled eight cents lower at $85.74 per barrel at the close of formal trading on the NYMEX. This is fifth consecutive settlement below $90 per barrel and the lowest price since December 2012.

  Comments