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Crude oil price decline is good news for drivers

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TBO.com staff

Published: September 6, 2009

TAMPA - Gasoline prices edged down in Florida by 4 cents a gallon last week as wholesale crude oil prices slipped and the peak summer driving season wanes.

The average price for a gallon of unleaded gas also inched down nationwide by 2 cents to $2.58, the AAA Auto Club South's weekly fuel price report said.

This should signal a customary decline in fuel prices as the Labor Day weekend marks the traditional end of summer driving, barring any threat to the nation's oil infrastructure such as a hurricane, the report said.

Crude oil dropped by $5 a barrel to finish at $68.02.

Helping the decline are expectations that this year's Labor Day travel will be lower than last year. Forecasts of rain in parts of the country may also help subdue travel plans, the report said.

Gas prices in Florida averaged $2.54 a gallon, down from $2.58. The price is 5 cents lower than a month ago.

Fuel prices in Georgia and Tennessee also dropped with the average in both states settling in at $2.40 a gallon.

The report said conditions in the oil and gas industry now generally favor consumers.

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