Gas prices keep falling
FOX 4 Staff
CAPE CORAL, Fla. - The good news for drivers keeps coming at the pump. Gasoline prices keep falling, down about 30 cents a gallon over the last month.
AAA says pump prices are doing the exact opposite of what was forecast at the start of the year. Instead of reaching a peak price, gas prices dropped to about 40 cents less than they were this time last year.
Oil prices also decreased last week after U.S. stocks fell on reports of weak corporate earnings, lackluster demand, and a strengthened dollar. The nation's oil output also continues to make gains. According to the Energy Information Administration, oil output rose 0.4 percent during the second week of April, as gasoline demand fell.
"Given the state of supply and demand fundamentals, gas prices will likely continue on this downward path for the next few weeks," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Pump prices are about 40 cents less than they were a year ago and the price gap is expected to widen."
The average price for a gallon of unleaded in Florida stands at $3.473, about 4 cents lower than the national average. Across Southwest Florida prices at the pump can be found under $3.40 a gallon.