Gas prices dip again in Bradenton-Sarasota; end of trend in sight

MANATEE -- Gasoline prices in the Bradenton-Sarasota area have fallen 3.2 cents per gallon in the past week, averaging $1.75 a gallon today, according to GasBuddy's daily survey of 308 area gas outlets.

This compares with the national average that has fallen 5.2 cents per gallon in the last week to $1.74 a gallon, according to gasoline price website GasBuddy.com.

In Florida, average prices are $1.79 a gallon, down 2.9 cents per gallon from last week's $1.82 a gallon. Just north in Tampa, prices were lower at $1.72 a gallon, down 2.6 cents per gallon from last week's $1.74 a gallon.

Locally, prices are 37.9 cents per gallon lower than the same day one year ago and 20.6 cents per gallon lower than a month ago.

"Gasoline prices continue to plunge coast to coast as refiners continue to churn out winter-spec gasoline that will soon need to be purged," said Patrick DeHaan, GasBuddy senior petroleum analyst. "This has put retail gasoline prices under tremendous pressure as gasoline inventories rise to their highest January level since records started in 1990."

In the days ahead, expect this seasonal "clearance sale" of gasoline to continue, leading to lower prices in most areas. But," DeHaan said, "Don't get too relaxed -- the shift in specifications will lead to an eventual lift in prices once winter gasoline is gone."

AAA also advises to prepare for a price uptick as refineries slow gasoline output because of seasonal maintenance.

"Unless oil prices decline in the coming weeks," said AAA spokesman Mark Jenkins, "there's a good chance that prices at the pump could begin to inch up."

This story was originally published February 8, 2016 at 5:07 PM with the headline "Gas prices dip again in Bradenton-Sarasota; end of trend in sight ."