Florida gas prices steadily declining

Brian Swartz | BDN
  Brian Swartz | BDN  On Route 1A in Dedham a motorist passes through the colorful fall foliage bordering the busy highway in 2015

The automotive club AAA predicts the gas prices in the southeastern USA will fall 5 to 10 cents this week. MI tied with DE, which also had a 10-cent drop, for the biggest one-week decline.

The price is still 60 cents higher than this time a year ago and 32 cents higher than this time a month ago.

"If it weren't for the recent hurricanes, gas prices would be about 25 cents lower", said AAA spokesman Mark Jenkins.

But even with a dip in prices over the past couple of weeks and projections of further declines this week, the average price of regular gas in Chattanooga is still up 44.2 cents per gallon from a month ago before Hurricanes Harvey and Irma struck Texas and Florida, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.

MI - again - topped the decline in state-average gas prices from a week ago, according to figures released today by GasBuddy.

Gas prices in Florida averaged $2.67 Sunday.

The national average Monday was $2.57. The price at the pump surged when Harvey struck refineries along the Gulf Coast, then remained elevated as demand spiked in the southeastern USA following Hurricane Irma. But most of those refineries have since reopened and only about 5 percent of the nation's capacity remains offline.

Floridians are getting a break at the gas pump as prices continue sliding after reaching three-year highs because of Hurricanes Harvey and Irma. But Patrick DeHaan, senior petroleum analyst for GasBuddy, said gas prices this fall should continue to decline as refineries replenish inventories and deliveries get back to normal across the Southeast.

At the close of trading Friday, AAA reports that crude oil settled at $50.66 per barrel, 77 cents higher than the previous week's closing price.

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