Average US gas prices fall 7 cents thanks to crude costs

Average US gas prices fall 7 cents thanks to crude costs

Average US gas prices fall 7 cents thanks to crude costs

Central Florida gas prices are falling, a seasonal trend delayed by Hurricanes Harvey and Irma.

The price of a gallon unleaded regular in Georgia fell almost nine cents last week, according to GasBuddy's daily survey of 5,883 gas outlets in Georgia.

Monday's national average was at $2.50 per gallon, which is six cents lower than last week, 17 cents lower than this time last month and 24 cents higher than this time a year ago.

Despite the damages over the weekend from Hurricane Nate, GasBuddy.com analysts expect the decline in gas prices to continue this fall. The lowest price per gallon in Jacksonville on Monday was at the Welcome Food Store at Wilson Boulevard and Jammes Road where the price per gallon was $2.28. The average OH price is $2.25 a gallon.

Upper Michigan has the highest average gas prices at $2.54 a gallon, for the fourth week in a row.

That high demand, coupled with refinery disruptions after Hurricane Harvey hit the Gulf Coast, had driven prices up 42 cents a gallon over a two-week span.

While the long-term impact from Hurricane Nate's landfall is yet to be seen, Jenkins said it's doubtful the storm will take a toll on local gas prices. The Tampa market posted the least expensive average price per gallon at $2.44.

Kevin Curry, a partner in the Meriden-based fuel distributer Danby's, said the profit margins between the whole sale price that gas stations owners pay for fuel and what they charge customers "are higher than normal right now". Gas was selling for $2.12 a gallon in the Orlando area a year ago. "If they cooperate, if they don't bounce back to where they were or go even higher, then I think we'll see a few more cents decline".

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