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GasBuddy

Despite holiday, gas prices continue to fall

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The demand for gasoline was the biggest in years for travelers trying to take the road to their Christmas destinations. Yet, where the classic system of supply and demand would’ve typically meant higher gas prices — they were, instead, lower.

In fact, motorists saw the cheapest gasoline for Christmas since 2008, where Florida drivers saw an average price of $2.43. That broke lows set in 2009, AAA said, when gas was $2.63 in the state.

“Low gas prices are helping consumers save more than $21 for a tank of gasoline compared to the highs earlier this year, and that has a positive effect on holiday shopping and travel,” AAA spokesman Mark Jenkins said, in a release. That high was $3.70.

“The new year will bring new expectations for even cheaper gasoline. Prices could drop another 3 to 6 cents by New Year’s Day.”

The national average dropped for a 94th consecutive day Sunday, the longest streak on record. The previous record of 86 days of drops came during the height of the Great Recession. Since that streak began, gas has fallen 92 cents in Florida.

“The world’s oil supply continues to outpace demand keeping downward pressure on oil and gas prices,” Jenkins said. “Speculators believe this trend will continue next year, so cheap gasoline should stick around for a while.”

Crude prices settled at $54.73 at the close of trading on Friday, down $1.79 from the previous week. The average price for a barrel of oil is expected to be $63 this coming year, according to the Energy Information Administration, down $12 over the last three months of 2014.

Florida is down 8 cents from a week ago, and 39 cents from a month ago. It’s off by 98 cents from a year ago.

Cheapest prices locally, according to GasBuddy, include:

• $2.10 at the Citgo at U.S. 41 and Crenshaw Lake Road in Lutz
• $2.13 at Sam’s Club on State Road 56 in Wesley Chapel
• $2.21 at both the D&D station at U.S. 98 and U.S. 301, and Clark at U.S. 301 near Long Avenue in Dade City
• $2.27 at the RaceTrac on State Road 52 near Silver Palm Boulevard in Land O’ Lakes
• $2.29 at the Marathon on Eiland Boulevard and Geiger Road in Zephyrhills

Merry Christmas, Florida: $2 gas is coming

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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 sign of slowing down,” AAA spokesman Mark Jenkins said, in a release. “Oil prices dropped for the fourth consecutive week because of increased oil production and low demand, and that’s keeping downward pressure on the price of gasoline. It is unclear exactly how low prices will go, but gasoline will keep getting cheaper as long as oil does.”

More than 89 million Americans are taking to the road this week, and when they do it, they will find the cheapest gasoline since May 2009, and the lowest Christmas prices since 2008, Jenkins said. On average, Americans are saving $13 for a tank of gas compared to this time last year, and if prices were to remain at these levels, households would save $550 next year, according to the Energy Information Administration.

“Plunging pump prices have boosted disposable income by more than 3.5 percent, which encourages Americans to travel,” Jenkins said. “AAA expects the highest number of travelers during the year-end holidays on record, which dates back to 2001.”

Florida prices were at $2.48 per gallon on average, down 12 cents from last week, and 35 cents from a month ago. Gas was 88 cents more expensive a year ago.

Although nowhere local has gas as close to $2 as Jacksonville does, many service stations are well below the state average.

In Land O’ Lakes, both the RaceTrac and the Hess station on the State Road 52 area reported prices of $2.35, according to GasBuddy, while the Sunoco on Land O’ Lakes Boulevard near Causeway Boulevard, reported the highest prices at $2.53.

In Wesley Chapel, Sam’s Club reported the lowest prices in the entire area at $2.24 on State Road 56. Four other stations were at $2.39, but well above the reported number from the high-volume retail store.

Lutz had gas prices ranging from $2.37 at Metro Gas on State Road 54 near Foggy Ridge Parkway, to $2.49 at three stations, including two near Van Dyke Road.

The cheapest gas in Zephyrhills is at the Marathon station on Eland Boulevard and Geiger Road with a reported price of $2.34. In Dade City, it was the Clark station at the lowest, with $2.33 per gallon on U.S. 301 near Long Avenue. The Chevron station on Fort King Road and Clinton Avenue was the most expensive, according to the website, at $2.45.

Another week, another dime for gas prices

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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, which pushes gas prices even lower,” said AAA spokesman Mark Jenkins, in a release. “Oil prices are forecast to drive lower next week, which means gas prices will follow suit. Gas prices could fall another 15 cents before the end of the year.”

Gas could even drop below $2 a gallon in some markets, Jenkins said. However, that it’s unlikely the national average will hit that low by the end of the year, and Florida likely won’t see those types of prices either.

Yet, Florida is dropping too, matching the national average at $2.70. That’s down 7 cents in the last week, and 73 cents from last year.

The price of oil dropped to its lowest level in five years, AAA said. The price for a barrel closed Friday at $65.84, down 31 cents from the week before. The shale boom has boosted U.S. oil production to just under 9.1 million barrels a day, the fastest rate on record, dating back to 1983.

Prices hit $2.57 at the Marathon station at Land O’ Lakes Boulevard and Ehren Cutoff on Sunday, according to GasBuddy. That’s a sharp contrast from the $2.74 reported at the Sunoco located on Land O’ Lakes and Causeway boulevards.

In Wesley Chapel, the cheapest gas was also $2.57, and found at the Sam’s Club on State Road 56 near Bruce B. Downs Boulevard. Five stations reported the highest gas in that particular part of Pasco County, at $2.69.

Lutz gas ranged from $2.54 at the Circle K at Van Dyke and Old Tobacco roads, to $2.79 at a Shell station at North Dale Mabry Highway and Van Dyke.

On the eastern side of the county, Zephyrhills had its cheapest gas at $2.59 at three different locations. The most expensive, according to GasBuddy, was $2.69 at two Gall Boulevard gas stations. In Dade City, it was $2.49 at two gas stations — the Clark station on U.S. 301 near Long Avenue, as well as D&D on U.S. 98 and U.S. 301. The most expensive there was reported at a Chevron station on Fort King Road and Clinton Avenue with a reported price of $2.62 per gallon.

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

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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 in southeastern states, such as Tennessee, may see a select few stations selling gas at or below $2 in the coming weeks,” AAA spokesman Josh Carrasco said, in a release. “The chances of gasoline averaging $2 per gallon are highly unlikely. Oil process would have to drop another $25 to $30 a barrel before we reach the $2 threshold.”

OPEC, which controls about 40 percent of the world’s oil, decided to continue production 30 million barrels of oil per day at a meeting in Vienna last week. That decision caused oil prices to nosedive, but not as much that would bring widespread $2 gasoline for the country.

West Texas Intermediate crude oil, the benchmark for the United States, fell $7.54 on Friday to $66.15 per barrel, AAA said. That’s the lowest close in five years.

“Oil production is outpacing demand,” Carrasco said. “The (United States) is the difference maker. Domestically, oil companies are producing over 9 million barrels a day, which is placing downward pressure on gasoline prices. Motorists should expect gas prices to fall throughout the holiday season.”

Gas in Florida on Sunday was $2.77 per gallon, down a nickel from a week ago, and 22 cents from this time in October. It’s down 69 cents from this time last year.

Taking a look at local gas prices, the RaceTrac station at State Road 52 and Silver Palm Boulevard reported the lowest gas prices in Land O’ Lakes on Sunday at $2.62, according to GasBuddy, while three other stations were posting the community’s highest gas prices at $2.79.

In Wesley Chapel, Sam’s Club on State Road 56 near Bruce B. Downs Boulevard regained its crown of having that community’s cheapest gas at $2.63, while the BP station at Willow Oaks Drive nearby has the most expensive reported gas at $2.79.

The Citgo station in Lutz was the cheapest in that area with posted prices of $2.66 at the North Dale Mabry Highway and Land O’ Lakes Boulevard location. Three other stations, like its neighboring communities, topped out at $2.79.

Zephyrhills had four stations selling gas at $2.64 per gallon, while the Citgo on County Road 54 and 20th Street had the most expensive at $2.71. In Dade City, gas prices ranged from $2.63 at two separate stations, to $2.69 at a Chevron at Fort King Road and Clinton Avenue.

Thanksgiving traveling like it’s 2009

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It’s just five years ago, but 2009 is not too hard to remember. The Black Eyed Peas had a hit in “Boom Boom Pow.” At movie theaters, “Avatar” was breaking every record imaginable. And at the gas pump, drivers were paying less than $2.70 at the pump.

Hit songs and blockbuster movies from five years ago will likely stay there, but cheap gas? It’s back, as the national average for a galling of regular unleaded gas was $2.82 heading into the busy Thanksgiving week.

“Travelers are thankful to have more money  in their pockets due to falling gas prices,” said AAA spokesman Mark Jenkins, in a release. “The good news is gas should continue falling through the rest of the year. Cheaper gasoline has helped boost disposable income and consumer spending, which encourages more people to travel.”

The state average in Florida Sunday matched the national average at $2.82, down 6 cents from a week ago, and off 64 cents a gallon from the $3.46 prices the state saw just over Thanksgiving weekend a year ago. State prices also are down 27 cents from a month ago.

The best prices in Land O’ Lakes over the weekend were found as usual at two stations on Land O’ Lakes Boulevard and State Road 52 — Both the RaceTrac and Hess station there reported $2.65 on Sunday, according to GasBuddy. The most expensive gas, on the other hand, was $2.83 reported at the Sunoco at Land O’ Lakes and Causeway boulevards.

Lutz drivers also found $2.65 gas at the Circle K on Van Dyke and Old Tobacco roads. The most expensive in that area was $2.89 at the Shell station on North Dale Mabry Highway and Van Dyke.

Six different gas stations in Wesley Chapel advertised prices of $2.69 over the weekend, competing for the cheapest gas there, while the most expensive was reported to be $2.79 at the Shell station on Bruce B. Downs Boulevard near State Road 56, as well as the BP station on Willow Oaks Drive and State Road 56.

In Zephyrhills, gas prices ranged from $2.69 at the Marathon on Eiland Boulevard and Geiger Road, as well as the Murphy USA on Gall Boulevard, to $2.76 at the Sunoco on County Road 54 and Wire Road. Dade City’s cheapest gas was $2.63 at both the Clark on U.S. 301 near Long Avenue, and D&D on U.S. 98 and U.S. 301.

 

Finding a deal on gasoline? It’s only going to get cheaper

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Since the end of September, the price of gas has plummeted in states across the country, including 41 cents per gallon in Florida alone.

And it’s not stopping anytime soon.

“Gas prices are plunging in-line with the falling price of oil, declining demand, and pumps selling winter blend fuel, which is cheaper to produce,” said AAA spokesman Mark Jenkins, in a release. “Gas prices should only get cheaper through the rest of the year.”

Even the national gas price is taking a hit, with the U.S. Energy Information Administration dropping its forecast from $3.38 per gallon in 2015, to $2.94 instead. The national average in 2013 was $3.49, and despite the current drop in price, has averaged $3.45 so far this year.

“The change in EIA’s forecast this month shows just how volatile gas prices can be,” Jenkins said. “Motorists can expect low gas prices to linger through early 2015, but they will likely climb above $3 a gallon in the spring.”

That’s because gas prices typically rise about 40 cents in the spring because of oil refinery maintenance, increased demand, and the switch to the more expensive summer blend fuel.

The shale boom continues to push the price of oil downward, with a barrel selling for $75.82 on Friday — down $2.83 from the week before.

A gallon of unleaded gasoline in Florida Sunday was down 3 cents from a week ago, and 32 cents from a month ago. The price is 35 cents cheaper per gallon than what it was a year ago.

Two gas stations just off State Road 52 reported the cheapest gas in Land O’ Lakes, according to GasBuddy.com, with a posted price of $2.73 per gallon on Sunday. The most expensive was found at the Sunoco station on Land O’ Lakes and Causeway boulevards, at $2.89.

The Sam’s Club on State Road 56 was slightly cheaper with prices at $2.72, while the cash price at a Citgo on State Road 54 and Boyette Road was the priciest in Wesley Chapel at $2.89.

Gas prices in Lutz ranged from $2.74 at three different stations, to $2.94 at a Shell station on North Dale Mabry Highway and Van Dyke Road.

The cheapest gas in Zephyrhills was reported at $2.72 at two different stations, while the most expensive was said to be $2.89 at a Citgo at Gall Boulevard and Chancey Road. Dade City prices ranged from $2.69 at D&D on U.S. 98 and U.S. 301, to $2.85 at the Citgo station at Lock and 21st streets.

No bottom yet in sight for falling gas prices

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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 averages also below that mark.

In fact, Florida — where the gas average price is $2.96 — is ranked 20th in the nation, and is part of a region of the country where gas is at its lowest.

“Gas prices are still falling,” said AAA spokesman Josh Carrasco, in a release. “There is still room for the price at the pump to drop in the short term. We could see prices side another 5 to 15 cents by the end of the year.”

Gas prices dropped 33 cents in October, the steepest single-month decline since 2008. A lot of that can be attributed to the cheapening of crude oil, according to the AAA, which accounts for a vast majority of gasoline’s cost. West Texas Intermediate, for example, has dropped more than $25 per barrel since this year’s peak price of $107.73 on June 20. The current price for WTI closed at $80.54 on Friday, down slightly from the previous week’s close of $81.27.

“Abundant oil supplies, winter-blend fuels and low demand continue to place downward pressure on gas prices,” Carrasco said. “Crude oil prices seem to be leveling out, which may put the brakes on significant drops in gasoline prices. But we haven’t hit the bottom yet.”

The price for gas in Florida dropped 8 cents from the previous week to $2.96. It’s down 37 cents from a month ago, and 29 cents from a year ago.

Taking a look at where gras prices are locally, the cheapest gas in Land O’ Lakes is at the RaceTrac on State Road 52 and Silver Palm Boulevard, where prices were reported Sunday at $2.76, according to GasBuddy. The priciest is at the Shell located on State Road 54 and State Road 56, where prices were set at $2.97 over the weekend.

In Lutz, prices ranged from $2.84 at the Circle K at Van Dyke and Old Tobacco roads, to $2.99 at two Shell stations on Dale Mabry Highway.

Motorists were finding the best gas prices in Wesley Chapel at the Sam’s Club at State Road 56 near Bruce B. Downs Boulevard, where prices were set at $2.82. The most expensive there was at Shell just nearby at $2.93.

In Zephyrhills, the cheapest gas was reported at the Shell station at Paul S. Buchman Highway and Central Avenue at $2.84. The high was found at $2.95 at the Citgo, located at Gall Boulevard and Chancey Road.

Finally, drivers in Dade City looking for the best prices should look up either the Clark station on U.S. 301 and Long Avenue, or D&D at U.S. 98 and U.S. 301, where prices were set at $2.83. The most expensive in that area was found at the BP station on U.S. 98, where gas was priced at $2.99.

 

Lower gas here just in time for holiday shopping

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Drivers are paying on average 65 cents less per gallon of gas they did just six months ago. And the price at stations around the state — and nation — continue to drop.

Gas in Florida checked in at $3.04 over the weekend, down 11 cents from a week ago, and below $3 in many markets, including in and around Pasco County.

“We are seeing gas prices falling at an average of 1 to 2 cents a day,” AAA spokesman John Carrasco said, in a release. “That’s extra money consumers can now use in other areas, like holiday shopping.”

Prices nationwide are the lowest since 2010, and gas has fallen below the $3 mark in 17 states, AAA said. Georgia was the latest state to cross the $3 mark, where the state average currently sits at $2.93. Tennessee, on the other hand, has one of the lowest gas prices in the nation at $2.80.

A barrel of oil fell $1.08 on Friday to $81.01, and hit a two-year low on Oct. 16 when it briefly dropped below $80. Some analysts believe oil prices could drop to $75, which likely would translate to even lower prices at the pump.

Florida’s prices are down more than a quarter from a year ago, when gas was selling at $3.30.

The RaceTrac and Mobil stations on State Road 52 on the northern part of Land O’ Lakes, has the cheapest gas in that area, checking in at $2.89 on Sunday, according to GasBuddy. The Sunoco at Land O’ Lakes and Causeway boulevards has reportedly the most expensive gas at $3.03.

Sam’s Club on State Road 56 in Wesley Chapel was just a penny cheaper than many of its surrounding competitors, with prices at $2.88. Not even the most expensive gas in that area is above $3 now, with two stations coming in at $2.99.

Two stations in Lutz reported $2.89 gas — the Citgo at North Dale Mabry Highway and Land O’ Lakes Boulevard, and Lutz Petroleum on U.S. 41. Two Shell stations in the Van Dyke Road area remain that area’s most expensive, at $3.09.

The cheapest gas n Zephyrhills was found at the Shell station at Buchman Highway and Central Avenue, which reported $2.95. Only the Citgo on Gall Boulevard and Chancey Road was above $3, according to GasBuddy, at $3.01.

Dade City has some of the cheapest prices in the area, with D&D at U.S. 98 and U.S. 301 reporting $2.85, and the Clark station at U.S. 301 near Long Avenue checking in at $2.87.

Like falling fuel prices? Thank shale

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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.

It’s here! $3 gas arrives in Wesley Chapel

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It’s been years since Florida has seen its average gas prices drop below the $3 mark. And while the state average is not there quite yet, two gas stations in Wesley Chapel was selling gas at $2.99 this past weekend.

The Hess station at State Road 54 and Bruce B. Downs Boulevard in Wesley Chapel is one of the first stations locally in years to have gas under $3. (Michael Hinman/Staff Photo)
The Hess station at State Road 54 and Bruce B. Downs Boulevard in Wesley Chapel is one of the first stations locally in years to have gas under $3. (Michael Hinman/Staff Photo)

Those gas stations — the Hess at State Road 54 and Bruce B. Downs Boulevard, and the cash buyers at Citgo at State Road 54 and Boyette Road — were the lowest in the area, and below the $3 mark for the first time, according to GasBuddy.

And that might be just the beginning.

“Gas prices declined dramatically last week, and more discounts are on the way,” said AAA spokesman Mark Jenkins, in a release. “It will soon be increasingly common for motorists to find gasoline cheaper than $3 a gallon. Demand is low and domestic oil supplies are high, putting downward pressure on the price of both oil and gasoline. State averages in Florida and Georgia could be flirting with the $3 mark by Thanksgiving.”

Right now, Florida’s average gas price is $3.24, down 7 cents from a week ago, and down a dime from a month ago. However, it’s down just a nickel from a year ago.

Gas nationally is $3.21, down 9 cents from a week ago, and 20 cents lower than a month ago.

Tennessee, by the way, already is at $3 on average. That’s down 9 cents from the week before, and 20 cents from the month before.

Gas prices in Land O’ Lakes on Sunday ranged from $3.17 at three different gas stations, to $3.21 at the Shell located at Land O’ Lakes Boulevard and Hale Road, according to GasBuddy.

It was a similar story in Lutz, where gas prices were found as low as $3.15 at both the Circle K at Van Dyke and Old Tobacco roads, as well as the Citgo at North Dale Mabry Highway and Land O’ Lakes Boulevard. The highest prices there on Sunday were reported at $3.29 at the Shell located at Van Dyke and Lakeshore Drive.

To join the $2.99 prices in Wesley Chapel, there were still some highs, including a price of $3.19 at three different stations.

Murphy USA had the cheapest gas in Zephyrhills over the weekend at $3.14 on Gall Boulevard near Ginger Avenue, while the Citgo at Gall and Chancey Road had the highest reported price at $3.25.

In Dade City, prices ranged from $3.15 at two locations, to $3.22 at two other stations.