Gas Prices Drift Lower

posted by Alan McBride - 

AAA is reporting that prices at the pump are holding steady in Florida, declining only fractions of a penny over the weekend. 

According to the auto club group, Florida gas prices averaged $2.27 per gallon. 

The state average is 2 cents less than last week, 19 cents more than last year. 

The most expensive gas price averages in Florida are in West Palm Beach-Boca Raton, Gainesville, and Miami.

The least expensive gas price averages in Florida are in Tampa, Orlando, and Fort Myers-Cape Coral. 

AAA analysts say pump prices are moving slightly lower as refineries keep the market well supplied with gasoline.

This means gasoline supplies are outpacing demand as we enter the final weeks of the summer travel season. 

Officials say this should prevent any major gains in gas prices, unless oil prices rise in response to unexpected disruptions in supply due to international conflict, refinery issues, or a hurricane.

Gasoline demand is on par with this time last year, yet gasoline supply levels are 2 percent stronger. 

Analysts say refiners are running at record highs thanks to favorable profit margins.

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