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.