The price of gasoline dropped nearly 2 cents a gallon last week in the Miami area — and it may decrease even more in coming weeks because of Brexit.
“Brexit’s impact — strengthening the U.S. dollar, weakening European currencies and weakening global crude oil prices — is expected to add even more downward pressure to summer gas prices,” said Gregg Laskowski, a senior petroleum analyst for GasBuddy.com.
Sunday’s price was $2.37 price for a gallon in Miami-Dade, a drop of 1.9 cents from the previous week, according to a survey of nearly 1,700 stations by GasBuddy. That compares to a price of $2.26 in Florida and $2.30 across the country.
Britain voted to exit the European Union last week, and the price of crude immediately dropped, according to AAA.
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“Gas prices were already falling before the Brexit vote, but reductions in the price of oil should allow the trend to continue,” said the AAA’s Mark Jenkins.
Here are gas prices across Florida:
▪ Sarasota: $2.20, down 3.5 cents
▪ Naples: $2.31, down 4.3 cents
▪ Cape Coral: $2.22, down 3.3 cents.
Amid the falling gas prices, a record 43 million Americans are expected to travel this Independence Day weekend, with the overwhelming majority driving, according to AAA. That tops the joint record set last year and in 2007, The Associated Press reported. Lower gas prices, strong consumer confidence and a generally healthy domestic economy have led more families to take trips this summer.