Florida gas prices saw a brief 7-cent increase last week, but quickly reversed course, ending the week at a two-month low of $3.31 per gallon on Sunday.
This represents a 2-cent decrease from the previous week, a 12-cent decrease from a month ago, and a significant 53-cent decrease compared to this time last year.
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“Over the weekend, Florida gasoline hit the lowest average price in two months,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The price of crude continues to influence prices at the pump. Oil prices increased early last week on renewed optimism about the U.S. economy, after a July domestic consumer spending report was better than analysts expected. By the end of the week, however, weak economic data from China caused oil prices to soften.”
The U.S. price of crude initially rose to $80 a barrel but ended the week at $76.65, down 19 cents. Gasoline futures also saw an 8-cent drop.
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