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...]

No bottom yet in sight for falling gas prices

Cheaper gas is probably something everyone can get used to. But how long will gas hover around the $2.75 mark or lower? Only time will tell. The national average for regular unleaded gasoline fell to its lowest point since December 2010, dropping below $3 per gallon. Right now, more than 60 percent of American gas stations are selling gas below that mark, according to AAA, and 23 states have … [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...]

Another steep drop sends gas prices closer to $3

It's good news for travelers this week as the price of gas fell another 6 cents per gallon this past week, hitting its lowest point since February, and making that elusive sub-$3 mark look even more realistic. Part of that continued decrease in price could come from what refineries have to do every year: switch from summer blend to winter blend fuel. "Winter blend gas is cheaper to produce, … [Read more...]