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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.

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.

 

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.

Plunging gas prices take a breather

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Notice gas going up at your favorite fill-up station? Don’t worry, it’s happening everywhere.

Maintenance at refineries along the Gulf of Mexico created a spike in gas prices this past week, pushing the cost of a gallon of gas up nearly a dime in one night Wednesday in some places around the state. But it did calm down elsewhere, and Florida reported an average of a 2-cent rise since last Sunday.

“Last week was a temporary setback in what should otherwise be a month of falling as prices,” said AAA spokesman Mark Jenkins, in a release. “In October, refineries reduce output to conduct maintenance on their systems. They choose this month because fewer people are driving, and demand for gasoline is lower. However, there are more refineries along the Gulf coast doing maintenance compared to last year, and that put a temporary strain on supplies, causing prices to rise.”

However, that maintenance work should be done within the next week or so, Jenkins said, and that should cause gas prices to drop 20 cents by Thanksgiving.

If it weren’t for the maintenance work, gas prices would be at the lowest levels in a long time. The price of a barrel of oil settled at $89.74 last week, the first time it’s closed below $90 since April 2013. The United States remains the lead oil producer in the world because of the shale boom, and domestic crude production is at its highest level since March 1986, according to a report from the U.S. Energy Information Administration.

Gas prices in Florida averaged $3.31 Sunday, up 2 cents from last week but still down 5 cents from a month ago. It’s even with prices from a year ago.

Marathon had the lowest gas prices in the Land O’ Lakes area Sunday, charging $3.17 at its station on Land O’ Lakes Boulevard and Ehren Cutoff. The highest was $3.29 at the Shell station on State Road 54 and State Road 56, according to GasBuddy.

However, prices were much better in Wesley Chapel, with $3.09 reported at the Marathon station at Wesley Chapel Boulevard near Magnolia Boulevard, and at the Shell station on County Road 54 and Oakley Boulevard. Prices peaked at $3.29 at two stations Willow Oaks Drive and State Road 56.

Gas prices in Lutz ranged from $3.19 at Citgo on North Dale Mabry Highway and Land O’ Lakes Boulevard, to $3.34 at the Shell station at Dale Mabry and Van Dyke Road.

Prices in Zephyrhills were pretty uniform, with several stations reporting gas at $3.22 or $3.23 over the weekend, according to GasBuddy. The 7-Eleven on Fifth Avenue had the highest-priced gas, but it’s $3.29 was not that far above everyone else.

Dade City was a little cheaper with $3.19 reported at Clark on U.S. 301 near Long Avenue, and at Sunoco on U.S. 301 near Jordan Road. The most expensive there was $3.29 at two stations not far from downtown.

 

Refinery problems freeze gas prices

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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 release. “As a result of these refinery issues, the downward pressure eon gas prices motorists saw earlier this month has stopped.”

Several companies in the Gulf region — home to more than 40 percent of U.S. refining capacity, announced an unplanned maintenance, AAA said, which reduced gasoline output in this areas. Those outages occurred the same time as other refineries in the region are conducting seasonal maintenance.

Oil prices also are rising again, with West Texas intermediate crude rising $1.13 to $93.54 a barrel on Friday.

“Overall, motorists are still seeing value at the pump,” Carrasco said. “Gas prices are at a seven-month low, and we expect gasoline to continue trending downwards in the coming months.”

Prices in Florida held steady this week at $3.29, but was down 8 cents from a month ago, and 6 cents from a year ago.

The cheapest gas in Land O’ Lakes was $3.16, and found at a few stations in the area, including the Hess on State Road 52 and U.S. 41, as well as the RaceTrac at State Road 52 and Silver Palm Boulevard, and another RaceTrac on Land O’ Lakes Boulevard, near Lake Patience Road, according to GasBuddy. The most expensive gas reported to the site was $3.29 at the Shell station on the corner of State Road 54 and State Road 56.

In Wesley Chapel, prices ranged from $3.12 at Sam’s Club near Bruce B. Downs Boulevard, and $3.29 at a Shell station nearby. Lutz gas was as low as $3.16 at the Chevron and Sunoco at State Road 54 and Collier Parkway, and as high as $3.39 at the Shell on North Dale Mabry Highway and Van Dyke Road.

Gas prices in Zephyrhills climbed a little bit to a low of $3.15 at the Marathon on Eiland Boulevard and Geiger Road, as well as the Mobil on State Road 54 and Allen Road. The most expensive was reported at the Cumberland Farms on Gall Boulevard and State Road 39, where gas was $3.26.

The cheapest gas in Dade City was $3.13 at Clark, on U.S. 301 near Long Avenue. The most expensive there was said to be at Chevron on the corner of Fort King Road and Clinton Avenue, were prices came in at $3.24.

Another steep drop sends gas prices closer to $3

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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, because it does not require the additives necessary in summer blend,” said AAA spokesman Josh Carrasco, in a release. “Also, here in the U.S., we continue benefiting from historic domestic oil production. Both of these factors continue placing downward pressure on gas prices.”

But the price for a barrel of oil did go up this past week 14 cents, allowing it to close at $92.41. Part of that was caused by oil supply reductions from OPEC. At the same time, Libya shut down its largest oil field due to escalating tensions in the area there, AAA said, while Saudi Arabia announced its largest reduction in oil exports in 18 months.

OPEC, the group said, supplies about 40 percent of the world’s oil.

“Right now, domestic oil supply is outpacing demand,” Carrasco said, “Geopolitical tensions and supply cuts caused oil to increase this week, but looking ahead, it will be challenging for OPEC to cut production to the point that it has significant impact due to high crude production in the U.S.”

The price of gas in Florida was $3.29 a gallon, down 3 cents from last week, and 13 cents from the year before. It’s also a nickel cheaper than what it was a month ago.

Four gas stations in Land O’ Lakes reported gas at the area’s lowest rate of $3.17, according to GasBuddy. That includes a 7-Eleven, RaceTrac, Citgo and Marathon. The most expensive was reported at the Shell station on State Road 54 and State Road 56, where gas was selling for $3.29.

Sam’s Club continues to remain the cheapest in Wesley Chapel at $3.15, while the Shell station at Bruce B. Downs Boulevard near State Road 56 was the highest at $3.29.

In Lutz, gas prices ranged form $3.16 at two Citgo stations, to $3.39 at two Shell stations. Zephyrhills once again offered the cheapest gas in the area, with the Marathon station at Eiland Boulevard and Geiger Road offering gas at $3.13 per gallon, while the Cumberland Farms at State Road 54 and Morris Bridge Road was reported at $3.21.

 

Gas prices still recovering from Labor Day weekend

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Gas prices are still trying to come down after the expected bump during Labor Day weekend, but that hasn’t stopped gas prices from being the lowest still since 2010 as September gets under way.

And prices could get better, especially with federal employment levels lower than expected.

“Demand typically eases going into the fall, but a high jobless report causes speculation that demand for gasoline may be even lower,” said Mark Jenkins, a spokesman for AAA-The Auto Club Group, in a release. “This report, combined with easing geopolitical tensions between Russia and Ukraine, and refineries beginning to switch from summer to winter blend fuels, all continue to place downward pressure on what is already unseasonably low gas prices.”

That trend, as Jenkins has shared before, could mean gas cheaper than $3 a gallon before the end of the year.

The U.S. Department of Labor reported last week that 142,000 new jobs were created in August, lowering the national unemployment rate slightly to 6.1 percent. While that is a positive growth in jobs, it was lower than analysts had expected.

Oil prices took a hit this past week as well, with a barrel of oil selling for $93.29 on Friday, a drop of $2.67 from the previous week. That is a seven-month low for crude.

The average gallon of gas in Florida was $3.36 on Sunday, down a penny from $3.37 a week ago, and 3 cents from a month ago. It’s 19 cents lower than what it was a year ago, however, AAA reported.

“Some markets are seeing more expensive gasoline compared to last week,” Jenkins said. “Much of that has to do with demand jumping during the Labor Day weekend, causing lower supplies and higher prices. It is possible that prices could inch up toward the middle of the month as refineries prepare to switch to the cheaper-to-produce winter blend gasoline on Sept. 15, but prices usually fall through the remainder of the year.”

The cheapest gas in Land O’ Lakes on Sunday night was $3.19 at the Mobil station on State Road 52 near the Suncoast Parkway, according to GasBuddy. The Shell station at State Road 54 and State Road 56 was listed as the most expensive at $3.37.

Wesley Chapel had some cheaper gas, found once again at Sam’s Club on State Road 56 near Bruce B. Downs Boulevard, where prices were reported at $3.17. Four locations — including a Shell station, 7-Eleven, Hess and Mobil — had gas prices at $3.37.

In Lutz, prices ranged from $3.21 at the Circle K on Van Dyke and Old Tobacco roads, to $3.39 at two Shell stations — one on Van Dyke near Lakeshore Drive, the other at North Dale Mabry Highway at Van Dyke.

Gas prices in Zephyrhills were found from $3.22 at a Mobil station on State Road 54 near Allen Road, to $3.34 at a Citgo on Gall Boulevard and Chancey Road. The cheapest gas in Dade City was $3.25 at three locations — Raceway, Marathon and Clark — while the most expensive, according to GasBuddy, was found at the Chevron station on Fort King Road and Clinton Avenue for $3.31.

 

Gas higher for summer, but not for long term

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Drivers probably were not happy to see gas prices jumping up just ahead of the Labor Day holiday, as they typically do when demand is higher, but they should be happy that it was still the cheapest Labor Day weekend gas in four years.

More than 29.7 million families gassed yup for a road trip on the weekend, according to AAA, with average prices nearly 19 cents cheaper than last year in Florida.

“There’s no doubt that low gas prices helped convince many Americans, who were on the fence about traveling, to take a trip during the holiday weekend,” said Mark Jenkins, a AAA spokesman, in a release. “Prices may get even cheaper in the coming months.”

That will come because of a mixture of higher domestic production in the fall, and lower demand, Jenkins said. In fact, he is expecting to see gas prices fall to below $3 a gallon before the end of the year. However, things that could spoil that would be refinery outages, or a hurricane in the Gulf of Mexico.

Barrels of oil were trading at $97.88 at the beginning of August, but finished the month at $93.86, helping to push the national average gasoline pieces down 9 cents. That included a 6-cent drop in Florida, as well as 8 cents in Georgia and 7 cents in Tennessee.

Right now, Florida is averaging $3.37 per gallon, 3 cents more than last week, but down a nickel from a month ago.

As of Monday, the cheapest gas in Land O’ Lakes, according to GasBuddy.com, was at the Mobil station at State Road 52 near the Suncoast Parkway, where regular unleaded was listed at $3.19. The most expensive was at a Shell station on the corner of State Roads 54 and 56, with a price of $3.37.

In Wesley Chapel, gas prices ranged from $3.18 at Sam’s Club on State Road 56 near Bruce B. Downs Boulevard, to $3.38 at a Shell station at State Road 54 and Oakley Boulevard. Lutz saw prices as low as $3.26 at a Sunoco in State Road 54 and Collier Parkway, and as high as $3.39 at the Shell station at Van Dyke Road and Lakeshore Drive.

The cheapest gas in Zephyrhills as of Monday was at the Marathon at Eiland Boulevard and Geiger Road at a cost of $3.25. The most expensive was reported at Citgo at Wire and Otis Allen roads at $3.40. Dade City gas prices ranged from $3.26 at the RaceWay at U.S. 301 and McDonald Road, to a cash price of $3.39 at the BP station on U.S. 98 Bypass and Church Street.

 

Traveling? Labor Day gas prices expected at 4-year low

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When gas prices will start to climb again, no one knows. And while there may be a slight increase in time for the high-demand season of Labor Day weekend, AAA says expect those prices to be the lowest they’ve been in four years.

“Record-high oil production is keeping downward pressure on gas prices,” said AAA spokesman Mark Jenkins, in a release. “The bottom fell out again on oil prices last week, which should lead to another week of discounts at the pump despite rising demand, as 29.7 million Americans plan to take a road trip for Labor Day weekend.”

The price for a barrel of oil dropped $3.70 last week to $93.65 — its cheapest since January. Refineries are producing the most petroleum for this time of year since 1989, AAA said, primarily because of the shale boom, which has boosted oil production in the United States by 64 percent in the past five years.

Gas prices in Florida were at $3.34 on Sunday, down nearly 2 cents from the week before, and 15 cents lower than what they were a month ago. Prices also are 22 cents cheaper than Labor Day weekend last year.

Of the southern states AAA reviews in its report, Tennessee and the cheapest gas at $3.21 a gallon, down a penny from the week before, and 18 cents lower than Labor Day 2013.

The cheapest gallon of gas in the Land O’ Lakes area, according to GasBuddy.com, is at the RaceTrac on State Road 52 and Silver Palm Boulevard, where prices were reported late Sunday night at $3.11. The Shell station at the corner of State Road 54 and State Road 56 had the highest prices in the area at $3.37.

In Wesley Chapel, Sam’s Club on State Road 56 near Bruce B. Downs Boulevard had the cheapest gas at $3.14, with the Shell station at State Road 54 and Oakley Boulevard reporting $3.39.

In Lutz, the Chevron and Sunoco stations on State Road 54 and Collier Parkway both reported $3.18 Sunday night, while the most expensive was found at the Shell station at Van Dyke Road and Lakeshore Drive at $3.39.

Gas in Zephyrhills still remains a little pricier than other parts of the county, with GasBuddy’s lowest reported price at the Marathon station on the corner of Eiland Boulevard and Geiger Road where it cost $3.25 per gallon. The Citgo at County Road 54 and 20th Street was the most expensive at $3.34.

Dade City was a little cheaper, with $3.17 reported at the Clark station near the corner of U.S. 301 and Long Avenue. The most expensive was $3.31 at the Chevron station on the corner of Fort King Road and Clinton Avenue.

Why do gas prices seem to rise the more east one travels in Pasco County? Read all about it in this week’s print edition of The Laker/Lutz News, available Aug. 27.