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Price of gas drops 3 cents a gallon in Florida

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By NEIL JOHNSON | The Tampa Tribune

Published: November 16, 2009

TAMPA - Slipping crude oil prices shaved 3 cents from what Florida drivers are paying for a gallon of gas.

The average in Florida for a gallon of regular gas fell in the past week to $2.68 from $2.71. Nationwide, the average price also dropped by 3 cents to $2.63, AAA Auto Club South said in its weekly report on gasoline prices.

Florida motorists are still paying 21 cents per gallon more than a month ago and 53 cents more than a year ago, when gas was $2.15 a gallon.

Despite a slumping demand driven by the typical seasonal decline plus consumer belt-tightening, the cost of gas rose more than 30 cents a gallon in October. This was at a time when drivers were using less and refineries had stockpiled ample supplies of fuel.

At $76.35 per barrel, last week's closing price for crude was the lowest since Oct. 15, and refineries have lowered production, the weekly report said.

The report also said there appears little reason for crude to hover in the $80-a-barrel range and gasoline prices should continue to decline.

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