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Florida gas prices drop 12 cents in one week

8:46 PM, Oct 29, 2012   |    comments
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TALLAHASSEE, Fla. -- Gas prices are dropping like a rock.

Prices at the pump dropped 12 cents in Florida last week, according to AAA. The average price for regular gas was $3.50 a gallon on Monday. That's down 20 cents from a month ago.

Some areas are seeing even bigger price drops. Some gas stations in Tallahassee are selling regular unleaded for under $3.25 a gallon.

AAA reports oil supplies are at their highest level in 30 years for this time of year and demand is lagging.

Auto Club Group spokeswoman Brenda Smith says look for the downward trend in prices to continue.

"Even though Hurricane Sandy is threatening the East Coast, AAA still does not expect that to increase the cost of gasoline. In fact, we think gas prices will decrease throughout this week."

Gas prices are plunging across the Southeast. The average price in Georgia is $3.39 a gallon and in Alabama it's $3.34 a gallon.

Missouri has the lowest prices in the nation at $3.18 a gallon.

Smith says AAA expects gas prices to continue dropping in the weeks leading up to Thanksgiving.

"We feel like that's great news for the consumer because at AAA, we do expect the gasoline prices to continue to drop and by that happening, it should encourage motorists who normally wouldn't have taken the Thanksgiving holiday trip to do so this year because the prices are going to be a lot less than they were even last year."

Oil prices are at their lowest levels in three months as global demand drops as well. The average gas price nationwide is $3.55 a gallon.

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