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How Low Will they Go? Jacksonville Gas Prices Fall Below $1.90

Associated Press

Plunging prices at the gas pump are expected to continue this week.

At least seven Jacksonville gas stations were selling a gallon of regular for $1.89 early Monday afternoon, according to GasBuddy.com, which supplies the data for the WJCT gas prices page.

"Low pump prices are likely to get even lower this week," said Mark Jenkins, spokesman, AAA - The Auto Club Group in an email to WJCT News. "The combination of the coronavirus and the ongoing price war between Saudi Arabia and Russia are contributing to some of the lowest futures prices since the Great Recession.

Florida gas prices have dropped an average of 22 cents in the past 18 days, according to AAA.

"Oil prices plunged early last week after Saudi Arabia pledged to flood the market with oil. As oil prices bottomed at around $33, gasoline futures continued to fall throughout the week. The effects of the coronavirus snowballed. Cancelled flights and large events, school closures, and companies asking employees to work from home lead to less fuel demand," Jenkins said, adding he believes the statewide average will soon dip below $2 a gallon.

At last check in a very fast changing situation, the state average was $2.17, according to AAA. Gasoline futures have lost more than 40% of value in just three weeks.

Bill Bortzfield can be reached at bbortzfield@wjct.org, 904-358-6349 or on Twitter at @BortzInJax.

Bill joined WJCT News in September of 2017 from The Florida Times-Union, where he served in a variety of multimedia journalism positions.