Home Consumer Gas Prices are Falling…but will they stay down

Gas Prices are Falling…but will they stay down

Gas prices
Image: stapletonion.com

By Al Sunshine, Consumer Investigator, for SouthFloridaReporter.com, Aug 4, 2015 – It looks like a great time to gas-up and drive somewhere. Pump prices are falling and predicted to go even lower. But as we all know, they mysteriously get jacked up again around Labor Day weekend. I’ve seen gas prices drop by about fifteen cents a gallon the past week. If it’s not dropping in your neighborhood, someone’s reeping some extra profits.

Per Triple-A:

Gas prices should continue dropping to catch up with the recent decline in the cost of crude oil. All things being equal, a $12 decline in crude oil costs could reduce gas prices by as much as 29 cents per gallon. Given that prices have already dropped about 14 cents per gallon since reaching a 2015 high in June, drivers could see prices drop another 15 cents per gallon in the near term if oil remains stable and refineries operate at current production levels. Gas prices could drop even further if oil continues to fall and gasoline supplies grow larger this  month.

The recent price declines are hopefully just a precursor of much bigger savings to come at the pump,” continued Jenkins. “We could see many parts of the country make another run towards $2 per gallon by the end of the year if everything keeps running smoothly.”

Faith Based Events

There are a number of factors that could keep gas prices from falling as expected, such as major refinery disruptions, higher oil costs, a major hurricane or conflict overseas.

State Price Breakdown

Florida gas prices averaged $2.63 in July. Prices have declined for 26 consecutive days, for a total of 16 cents since July 8.

Georgia gas prices averaged $2.62 in July. Prices have declined for 25 consecutive days, for a total of 16 cents since July 9.

Tennessee gas prices averaged $2.51 in July. Prices have declined for 25 consecutive days, for a total of 15 cents since July 9.

CURRENT AND PAST PRICE AVERAGES 

Regular Unleaded Gasoline 

Sunday

Saturday

Week Ago

Month Ago

Year Ago

2015 Peak Price

2015 Lowest Price

National

$2.652

$2.655

$2.715

$2.767

$3.510

$2.80 (6/15)

$2.03 (1/26)

Florida

$2.512

$2.518

$2.582

$2.681

$3.420

$2.72 (6/18)

$2.07 (1/31)

Georgia

$2.499

$2.505

$2.561

$2.658

$3.402

$2.72 (6/15)

$1.99 (1/28)

Tennessee

$2.369

$2.373

$2.424

$2.534

$3.275

$2.58 (6/17)

$1.88 (1/26)

 

Click here to view current gasoline price averages

 


Disclaimer

The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components


Al Sunshine is a South Florida-based Broadcast and Digital Journalist whose career has spanned more than 40 years at the local and national levels. His award-winning investigations have triggered more than a dozen state and local consumer protection laws and his work’s been cited in Congressional Testimony before the U-S House of Representatives. He is best known for his “Shame On You” features for CBS Miami which sought to expose businesses, agencies and individuals defrauding or deceiving consumers, as well as endangering the safety and welfare of the general public. In 2013 Al retired from CBS Miami to set up his own Digital News Business, “Sunshine News, LLC” and Al continues to blog for the Radio, Television, Digital News Association, sponsors of the prestigious Edward R. Murrow Awards”. An avid environmentalist, Al is one of the founding members of the “Miami Pine Rocklands Coalition”. The Florida Non-Profit is fighting to save and restore the last 2% of Pine Rocklands found only in South Florida and nowhere else in the continental United States. Al was recently elected its President.