Orlando-area gas prices expected to drop
Thanks to a drop in the price of crude oil last week, gasoline prices are expected to follow suit this week as well, AAA Auto Club South said.
Crude oil prices decreased $5.28 last week due to economic conditions and decreased demand. Jobless claims rose by 2,000 last week with more than 484,000 claims filed — the highest level since February. Meanwhile, weakened consumer demand contributed to a decrease in U.S. retail sales, according to the latest Commerce Department report.
Crude oil settled at $75.42 a barrel on the New York Mercantile Exchange Friday.
“The price of crude oil will most likely move lower this week and may trade below $75 a barrel as the condition of the U.S. economy does not support prices much higher,” said Jessica Brady, manager of AAA public relations. “As a result, consumers can expect to see gas prices go down this week, and it’s possible prices may decrease further into the Labor Day weekend.”
The national average price of unleaded regular gasoline is $2.75 per gallon, 2 cents more than last week. Florida’s average price is 3 cents less than last week at $2.70 per gallon.
In metro Orlando, the price of a gallon of regular gasoline currently averages $2.63, down 4 cents from a week ago.
Filed under: management by Specialist