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Gas Prices In Tampa Area Drop 28 Cents In A Week

Tribune photo by JULIE BUSCH

Charles Moriarty hasn't filled the tank of his Dodge Ram pickup since he bought it in March because of high gas prices.

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By RUSSELL RAY | The Tampa Tribune

Published: October 13, 2008

TAMPA - Gasoline prices in the Tampa Bay area have plunged an average of 28 cents a gallon in one week.

Local retailers were charging $3.26 on average for a gallon of regular unleaded this morning, down from $3.54 a week ago, according to AAA's Daily Fuel Gauge Report.

Penny Herron, a soccer mom who fills up her sport utility vehicle three times a week, said the lower prices probably won't last.

"They're falling now, but they're not going to stay that way," Herron said. "I think it's a tease."

Citing lower oil prices and increased fuel supplies, industry observers said the average price of regular unleaded may reach $3 a gallon by the end of this month.

The price of oil, the feedstock for nearly all transportation fuels, has dropped to about $77 a barrel, down from a high of $145.29 in July.

What's more, the consumption of crude oil recently fell to its lowest level since 1999, according to a report released last week by the Energy Information Administration, the statistical arm of the U.S. Department of Energy.

"Motorists can expect retail gasoline prices to continue to drop at a rapid rate this week," AAA spokesman Randy Bly said.

Reporter Russell Ray can be reached at (813) 259-7870.

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