Gas prices plummet to $1.82 a gallon in Bradenton-Sarasota

MANATEE -- Average retail gasoline prices in the Bradenton-Sarasota area have fallen 6.8 cents per gallon in the past week, averaging $1.82 a gallon Monday, according to GasBuddy's daily survey of 308 area gas outlets.

Nationally, prices have fallen 6.5 cents per gallon in the last week to the same $1.82 a gallon, according to GasBuddy.com.

"As the Northeast digs out from the brutal blizzard Jonas, commodities markets are attempting to dig themselves out of their recent hole," said Will Speer, a GasBuddy senior petroleum analyst. "Crude oil futures have lost 18 percent of value since the end of 2015 and have cleared the way for the retail gasoline price decline. Ample supply has been attributed as the cause of prices falling at the pump. Gasoline inventories sitting at 245 million barrels are the highest the U.S. has seen since March 1990."

Here's a glance around the state:

Cape Coral: $1.81 a gallon, down 7.8 cents per gallon from last week's $1.88 a gallon.

Tampa: $1.78 a gallon, down 6.7 cents per gallon from last week's $1.85 a gallon.

Miami: $1.97 a gallon, down more than 4 cents from last week.

And the average in Florida: $1.85 a gallon, down 5.8 cents per gallon from last week's $1.91 a gallon.

The national average has decreased 17.5 cents per gallon during the last month and stands 20 cents per gallon lower than this day one year ago.

"Oil prices dropped like a rock last week, and took gas prices with them," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The low price of crude remains the primary contributor to discounts at the pump, making it cheaper to produce gasoline."

This story was originally published January 25, 2016 at 4:53 PM with the headline "Gas prices plummet to $1.82 a gallon in Bradenton-Sarasota ."