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 to fill their tanks than they were around July 4,” said AAA spokesman Josh Carrasco, in a release. “This is extra money that consumers can use for the holidays, either to put presents under the tree, or dinner on the table.”
Prices in Florida dropped 9 cents in the past week to $3.15. It followed a drop of a dime nationally, creating the lowest average since February 2011. At the statewide level, gas is still not at $3 in Florida, but that’s not true in other southern states, like Tennessee, where gas averaged $2.89 — down 11 cents from the week before.
Gas in Florida is down 14 cents from a month ago, and 18 cents from a year ago.
“Gas prices should continue to fall through the end of the year,” Carrasco said. “$3 a gallon and cheaper should become a common sight for motorists. The state averages of Florida and Georgia could be at or even below the $3 a gallon mark as early as Thanksgiving.”
Gas in Land O’ Lakes was at $3.07 at four different stations on Sunday, according to GasBuddy.com, including Citgo at State Road 52 and U.S. 41, the Hess in the same location, the Marathon station at Land O’ Lakes Boulevard and Ehren Cutoff, and the RaceTrac at State Road 52 and Silver Palm Boulevard.
In Lutz, the best prices were mostly the same with $3.07 at Chevron and the Sunoco both at State Road 54 and Collier Parkway. The most expensive was $3.19 at two Shell stations.
Seven stations in Wesley Chapel are below $3, with five as low as $2.95. That includes two Marathon stations, a Hess, a Mobil and a Shell. The highest prices in that area were really not above $3.09.
Gas was a little more expensive in Zephyrhills with $3.05 at the Marathon on Eiland Boulevard and Geiger Road, as well as Murphy USA at Gall Boulevard near Ginger Avenue. The cheapest in Dade City was reported at Clark on U.S. 301 near Long Avenue, where gas was $2.95. The most expensive there was $3.12 at the Shell located at Cortez Boulevard and U.S. 301.