How low will it go? Gas prices continue to dip, but not for long

The cost at the pump keeps drip-drip-dripping downward, dropping another 3 cents a gallon last week in Miami-Dade County.

The average price in the region dipped to $1.94, according to a GasBuddy survey released Monday morning. The fuel-price monitor surveyed more than 1,600 gasoline stations last week.

For perspective, the price at the pump is 22.6 cents lower than at this time a year ago, according to GasBuddy, and 16.6 cents lower than a month ago.

“For now, due to a lag time from rising oil prices, gasoline prices in many areas continue to drift lower, but don’t be caught by surprise if in a few weeks they revert and move higher,” said Patrick DeHaan, a GasBuddy petroleum analyst.

In Florida, prices dropped from an average of $1.86 to $1.82 a gallon, according to AAA. The national average also dropped about 4 cents a gallon.

Prices are likely to increase later this month, said AAA spokesman Mark Jenkins.

Still, Jenkins said in his weekly report, “AAA continues to expect the 2016 average to be the lowest in more than a decade.”

This story was originally published February 1, 2016 at 6:23 AM with the headline "How low will it go? Gas prices continue to dip, but not for long."