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Gas prices fall for fifth straight week

A car is shown at a gas pump in North Miami.
Wilfredo Lee
/
AP
A car is shown at a gas pump in North Miami.

Gasoline prices in Florida have fallen for five straight five weeks, dropping below $4 per gallon in some cities.

The average price Monday was $4.26 for a gallon of regular, down from $4.83 a month ago, according to the AAA auto club.

Jacksonville's prices averaged $4.22 compared with $4.83 a month ago.

Prices have fallen 62 cents per gallon over five weeks, AAA said Monday.

"For the first time in a couple months, drivers in some Florida cities are beginning to find pump prices below $4 a gallon," AAA spokesman Mark Jenkins said in a news release.

Prices could go even lower this week, Jenkins said, but the market remains volatile and pump prices could bounce back up — particularly if a major storm makes landfall on the Gulf Coast and impacts oil refineries.

This Week in Petroleum
/
U.S. Energy Information Administration

Gasbuddy said the average price of gasoline declined 10.8 cents in the last week and stands at $5.54 per gallon nationally.

The top 10% of stations in the country average $5.71 per gallon, while the bottom 10% average $3.82 per gallon, Gasbuddy said.

The national average has dropped for 34 straight days, with more than 25,000 stations selling gas at $3.99 per gallon of less, said Patrick De Haan, head of petroleum analysis at GasBuddy. More stations, especially in the South, could fall below $4 per gallon in the weeks ahead, De Haan wrote on the Gasbuddy blog.

AAA said data indicates that Americans might be cutting back on their driving in response to high pump prices.

The U.S. Energy Information Administration reported a steep drop this month in domestic gasoline demand — from 9.5 million barrels a year ago to 8.73 million on July 8.

Randy comes to Jacksonville from the South Florida Sun Sentinel, where, as metro editor, he led investigative coverage of the Parkland school shooting that won the 2019 Pulitzer Prize for public service. He has spent more than 40 years in reporting and editing positions in Illinois, Iowa, Missouri, Ohio and Florida. You can reach Randy at rroguski@wjct.org or on Twitter, @rroguski.