WCTV | Tallahassee, Thomasville, Valdosta | News, Weather, Sports

Oil Plunges, Pushes Gasoline to 3 Month Lows

By: AAA South Email
By: AAA South Email

News Release: AAA South
July 14, 2014

TAMPA, Fla. (July 13, 2014) — The price of oil dropped for the third consecutive week, pushing retail prices to their lowest level in months. Sunday, the national average price for a gallon of regular unleaded gasoline fell for the 16th consecutive day. Since last week, the average price fell 4 cents to $3.62, the cheapest price since April.

Oil settled at its lowest price in two months on the NYMEX as U.S. stockpiles increased last week and supply risks eased in Iraq and Libya. The price for a barrel of oil settled at $100.83 Friday, a $3.23 decline from a week ago.

"Oil prices hit a free-fall at the end of last week," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "As a result, motorists in the southeast could see prices at the pump fall 10 to 20 cents in the next two weeks."

The average price for a gallon of regular unleaded gasoline in Florida is 3 cents cheaper than last week and the lowest since March 25. In Georgia, the average price is 4 cents cheaper than last week and the lowest since April 7. In Tennessee, the price is 4 cents cheaper than last week, the lowest since April 4. Gas prices are on a streak of declines, falling 16 consecutive days in Florida, 20 days in Georgia, and 18 in Tennessee.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WCTV 1801 Halstead Blvd. Tallahassee, FL 32309
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 267003271 - wctv.tv/a?a=267003271