Merry Christmas, Florida: $2 gas is coming

Georgia and Tennessee have gas stations where prices have fallen below $2 a gallon. And it looks like Florida might not be far behind. Stations in the Jacksonville area reported prices of $2.10 over the weekend, according to AAA. And if prices keep falling at the current rate of 2 cents a day, that area will be at $2 a gallon by the end of the week. "Gasoline prices are plunging with little … [Read more...]

Another week, another dime for gas prices

There is still no end in sight on how low gas prices may go after the national average for a gallon of gasoline dropped another dime in the past week. That new national average is now $2.70, the lowest since September 2010. Sunday marked the 73rd straight day that gas prices had fallen, losing 66 cents in the process. "The shale boom continues putting downward pressure on the price of oil, … [Read more...]

Could gas fall to $2? Not here, but a few places might

It wasn't very long ago that there was hope gas would drop below $3 a gallon by the end of the year. But could the unimaginable be possible instead? Could gas actually drop below $2 a gallon? For 58 consecutive days, gas prices have dropped in Florida. And it's not stopping anytime soon, especially after OPEC decided against cutting oil production to help stabilize gasoline prices. "Drivers … [Read more...]

Like falling fuel prices? Thank shale

Oil production in the United States is at its highest level since the release of the first "Back to the Future" movie in 1985, and a lot of that has to do with the new shale boom. Crude oil settled at $82.75 on Friday after dropping below $80 for the first time in two years just the day before, as gas prices continue to drop both locally and nationwide. "Motorists are paying $5 to $15 less … [Read more...]

Refinery problems freeze gas prices

The dream of gas under $3 may have to wait a little longer, at least in Florida. Refinery outages in both Canada and Texas put a halt to the summer-long decline in gas prices, and even went as far as pushing prices up in some places, like Pensacola. "Refinery maintenance, especially in the Gulf, is causing the tightening of supplies in some areas," said AAA spokesman Josh Carrasco, in a … [Read more...]

Gas prices still recovering from Labor Day weekend

Gas prices are still trying to come down after the expected bump during Labor Day weekend, but that hasn't stopped gas prices from being the lowest still since 2010 as September gets under way. And prices could get better, especially with federal employment levels lower than expected. "Demand typically eases going into the fall, but a high jobless report causes speculation that demand for … [Read more...]

Traveling? Labor Day gas prices expected at 4-year low

When gas prices will start to climb again, no one knows. And while there may be a slight increase in time for the high-demand season of Labor Day weekend, AAA says expect those prices to be the lowest they've been in four years. "Record-high oil production is keeping downward pressure on gas prices," said AAA spokesman Mark Jenkins, in a release. "The bottom fell out again on oil prices last … [Read more...]