Gas prices tumble for second straight week

Prices at the pump plummeted for the second straight week with Florida seeing a nation-leading 15-cent drop since last Monday. 

Two weeks after the national average hit an all-time high of $5.01 per gallon, prices have slightly dropped the past two weeks to $4.90. 

In Florida, the statewide price decreased from $4.81 per gallon to $4.67.

According to Monday’s AAA weekly report, the drop in the global price of oil led to the national average for a gallon of gas to fall for a second week. Continued economic fears of a global recession combined with less demand for oil dropped the price to around $107 per barrel, down from $110 last week.

“Fear is not a good reason to move a market like the one for oil, but it is a powerful motivator,” said Andrew Gross, AAA spokesperson in the release. “The cost of oil accounts for nearly $3 for every $4.89 at the gas pump. Consumers should find more relief when fueling up if oil prices drop further.”

In Gainesville, prices went from $4.88 last week to $4.77. 

Last month, Florida’s price was $4.58 and last year’s price was $2.94. Florida ranks 36th in the nation for the highest average per gallon.

According to GasBuddy.com, the following locations have the best prices in Alachua County:

  • $4.58 at Love’s Travel Stop, 5615 SE US 301, Hawthorne
  • $4.59 at Pilot, 17276 US 301, Waldo
  • $4.59 at Raceway, 15330 NW US 301, Waldo
  • $4.60 at Murphy Express, 6323 NW 13th St., Gainesville
  • $4.64 at Circle K, 16130 NW US Hwy 441, Gainesville
  • $4.65 at BP, 3845 NW 15th St., Gainesville
  • $4.65 at Sunoco, 528 NW 8th Ave., Gainesville
  • $4.65 at The Short Stop, 2610 NE 39th Ave, Gainesville
  • $4.66 at Pure, 405 NE 1st, High Springs
  • $4.67 at Shell, 905 S. Main St., High Springs

AAA stated on Monday in its release that the U.S. Energy Information Administration’s (EIA) report—a vital gas price indicator—was unavailable. The EIA blamed “system issues” and said it was delaying the release of gasoline demand data. According to the AAA release, demand is a sign of whether motorists are fueling up or not, which in turn may be reflected in higher or lower pump prices.

Monday’s national average of $4.89 is nine cents less than a week ago, up 30 cents since last month and $1.80 more than a year ago.

Quick Stats 

The nation’s top 10 largest weekly decreases: Florida (−15 cents), Wisconsin (−13 cents), Delaware (−13 cents), Indiana (−12 cents), South Carolina (−11 cents), Ohio (−11 cents), Kentucky (−11 cents), Texas (−11 cents), Washington, D.C. (−11 cents) and Michigan (−11 cents).

The nation’s top 10 least expensive markets: Georgia ($4.40), Mississippi ($4.41), South Carolina ($4.42), Louisiana ($4.44), Arkansas ($4.44), Alabama ($4.49), Tennessee ($4.51), North Carolina ($4.53), Texas ($4.54) and Oklahoma ($4.56).

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