Tuesday, November 4, 2008
Gas prices continue steady decline
Jacksonville Business Journal
The average cost of a gallon of regular gasoline fell to $2.46 in Florida during the week ended Sunday, down 53 cents from the previous week and $1.21 lower than a month earlier.
Prices in the Jacksonville area averaged $2.28, compared to $3.68 a month ago and $2.96 a year ago, AAA Auto Club South reported.
The group said the slumping economy has reduced demand for gas, contributing to the decline. Crude oil prices have plummeted since last summer, when the cost of a barrel rose to $140. At the end of last week, a barrel of crude closed at $67.81.
AAA expects gas prices to continue to retreat, though at a less rapid pace than in recent weeks. Nationally, regular unleaded gas averaged $2.44 a gallon on Sunday.
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