Florida gasoline prices dropped for the 24th consecutive day Monday, but experts warn not to expect this unusual price recession to continue much longer.
The American Automobile Association says pump prices for a gallon of regular went down another five cents in the past week and 14 cents in the past 23 days. But AAA spokesman Mark Jenkins says there are already forces conspiring to stop the price slide and reverse it by summer.
“Although gas prices could slip a little lower this week, rising oil and gasoline futures prices have already caused that downward shift to stall in some markets,” said Jenkins.
“As we get closer to Memorial Day, the market will continue to be influenced by crude prices, refinery production rates and gasoline inventories as key indicators that will steer retail prices into the summer.”
On Sunday, average gas prices statewide stood at $2.32, just under the national average of $2.34. Last year, the average Florida gas price was $2.19 while the national average was $2.22.