JACKSONVILLE, Fla. – Florida gas prices fell for the eighth week in a row, AAA said Monday.
The average price for a gallon of gas in the state has now declined more than $1 since setting a record high of $4.89 on June 13, the Auto Club Group said.
As of Monday, according to AAA, the average price for a gallon of gas in Florida was $3.78. In Duval County, it was $3.73. And nationwide, it was $4.06.
“Falling oil prices and dropping gasoline demand have paved the way for the recent pump price plunge,” said AAA spokesperson Mark Jenkins. “The downturn should continue this week, after another round of big losses in both oil and gasoline futures markets.”
AAA said the downturn in oil prices has largely been driven by market concerns that the global economy is heading for a recession.
“Florida drivers in some markets are beginning to find gas prices in the $3.60s, if not lower,” Jenkins said. “The state average could very easily drop to that price point in the next week or two. However, it’s worth remembering that the fuel market has proven to be extremely volatile this year, and trends can change rather quickly if something reignites concerns about fuel supplies.”
Daily gas price averages can be found at gasprices.aaa.com.