Gas prices in the Bradenton-Sarasota area fell another 3.3 cents per gallon in the past week, averaging $2.12 a gallon, according to GasBuddy's daily survey of 308 area gas outlets. Across the nation, prices fell 3.4 cents per gallon in the last week to an average $2.23 a gallon, according to gasoline price website GasBuddy.com.
Gas prices have fallen for more than a month, and the discount at the pump doesn't show any signs of letting up. Gas prices declined 14 cents in Florida, 18 cents in Georgia, and 17 cents in Tennessee, AAA reported Monday. Today’s average prices for regular unleaded gasoline are $2.20 in Florida, $2.10 in Georgia, and $2.03 in Tennessee.
"Gas prices keep moving lower thanks to increased gasoline supply and low oil prices," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Oil prices hit their lowest level since early May, making it cheaper to produce gasoline; and refineries have ramped-up gasoline production to levels that continue to satisfy record-high demand.”
In Bradenton-Sarasota, prices are 52.6 cents a gallon lower than the same day a year ago, and 17.2 cents per gallon lower than a month ago.
“Even an uptick in demand for gasoline during the Fourth of July weekend couldn’t slow falling retail gasoline prices,” said Will Speer, senior petroleum analyst for GasBuddy. “The average retail gasoline price for the United States has dropped for 26 consecutive days.
“As the European Union stability weighs on investors’ minds, states like Ohio and Michigan have been able to take advantage of lower crude prices and improved refinery utilization in the region by posting a nation-leading 10 cent per gallon average decline in gas prices in one week," he added.