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Gas prices continue to drop in Florida as oil prices plummet

Eduardo Palacios-Paez of Miami pumps gas at a RaceTrac gasoline station Thursday in Hialeah, Fla. Motorists are now seeing prices under $3 a gallon for the first time in four years. That makes drivers happy, and it also makes gas station owners happy because they are paying less and making more on fuel.
Eduardo Palacios-Paez of Miami pumps gas at a RaceTrac gasoline station Thursday in Hialeah, Fla. Motorists are now seeing prices under $3 a gallon for the first time in four years. That makes drivers happy, and it also makes gas station owners happy because they are paying less and making more on fuel. AP

With the price of oil on a “steep decline,” South Florida drivers will continue to see relief at the pump, said Mark Jenkins, spokesman for AAA.

Gas has dropped another 9 cents a gallon this week in Florida, according to the auto club’s newest survey.

The average price in Florida is $2.23 a gallon. A year ago, the price was $3.39 a gallon. Nationally, gas costs $2.14 a gallon, 7 cents cheaper than last week, according to AAA.

“If this continues, we could see prices below $2 by February,” Jenkins said.

As of this week, a barrel of oil costs about $50, more than $50 less than last year.

“Production is outpacing demand,” he said.

With lower prices for gas, AAA predicted that more people would travel by car during the holiday season since 2001.

As for how long the prices will continue to drop, “it’s anyone’s guess,” Jenkins said.

“They will eventually have to level out,” he said.

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