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.