AAA says Falling Oil pushes Pump Prices Lower
July 20, 2015
Tampa, FL – Gas prices dipped last week after the price of oil fell to its lowest level in 3 months. West Texas Intermediate settled below $51.00 a barrel for the first time since April and gas prices are responding in kind.
“The price of oil continues to be the main driver of gas prices, said Mark Jenkins, spokesman, AAA – The Auto Club Group. “As oil gets cheaper, it becomes less expensive to produce gasoline, and those savings are reflected in prices at the pump.”
AAA reports Oil Prices Falling, Gas Prices to drop soon
July 13, 2015
Tampa, FL – Motorists should begin to notice lower gasoline prices in the coming weeks thanks to declining oil prices. Last week, a barrel of oil hit its lowest price since April, at a time when gasoline prices were about 20 cents cheaper.
“The decline at the pump is unlikely to be as dramatic as a 20 cent discount, but a few cents here and there is not out of the question,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Usually gas prices respond more rapidly to rising oil prices than when oil prices fall. Prices at the pump aren’t as quick to fall when oil prices do because retailers first need to sell the gasoline in their tanks, which was purchased when gasoline was more expensive. Regardless, lower oil prices means it costs less to produce gasoline, which is good news for motorists.”
AAA says Gas Prices Decrease as Holiday Approaches
June 30, 2015
Tampa, FL – Gas prices are declining as we approach the most traveled Independence Day holiday weekend since 2007. Of the 41.9 million total travelers, 35.5 million Americans will take a road trip; the highest number of auto travelers on record (which dates back to 2000).
“Lower gas prices are added incentive for travelers to pack-up the family vehicle and hit the road this Independence Day,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Motorists have been nervous about rising pump prices during the past five months, but will be delighted to see that prices are on the way back down. Gas prices are likely to continue falling through the holiday weekend, and travelers will find the cheapest gas prices in at least five years.”
AAA reports Oil Exceeds $60 a Barrel; Gas Prices Decline
May 11, 2015
Tampa, FL – Despite oil reaching its highest price of the year, the national average price for gasoline declined Sunday, for the first time since rising 27 cents during a period of 25 consecutive days. During that same time, price rose 30 cents in Georgia, and 28 cents in Florida and Tennessee.
U.S. gas prices are now exactly $1.00 cheaper than this time last year and motorists are saving an average of $15.00 on a full tank of gas.
