Florida gas prices saw a slight increase of over 6 cents last week, reaching a state average of $3.46 per gallon on Sunday. However, experts predict this trend may soon reverse.
“Although gas prices rose last week, fundamentals are moving lower,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Crude oil and gasoline futures prices finished the week sharply lower than the week before, which should enable gas prices to decline.”
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The U.S. price of crude oil has been steadily declining for the past four weeks, falling about $10 per barrel (13%). Friday’s closing price of $73.52 per barrel was the lowest since June 4th.
“Futures prices reportedly fell after the latest jobs report triggered concerns of an economic slowdown,” Jenkins said.
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