Florida gas prices fluctuated throughout last week, ultimately returning to their starting point of $3.51 per gallon. After a brief dip, prices surged by 7 cents mid-week before settling back down by Sunday.
AAA spokesperson, Mark Jenkins, attributes the stable gas prices to the steady crude oil and gasoline futures market. He suggests that hopes for cooling inflation and potential interest rate cuts by the Federal Reserve are contributing to this stability. Market analysts predict that lower interest rates could stimulate fuel demand.
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The price of crude oil, a major determinant of gasoline prices, closed at $82.21 per barrel, a slight decrease of 1% compared to the previous week.
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