Falling gas prices in Tampa Bay might level out soon

The price of gas in the Tampa Bay area fell seven cents per gallon in the last week. [MONICA HERNDON | Times, 2017]
The price of gas in the Tampa Bay area fell seven cents per gallon in the last week. [MONICA HERNDON | Times, 2017]
Published June 25 2018
Updated June 26 2018

Gas prices in Florida have been declining for the past 30 days straight, but analysts say that trend might not last due to higher oil prices.

Tampa Bay gas prices fell another seven cents a gallon over the past week to an average of $2.58 a gallon for unleaded, far lower than the national average of $2.86 a gallon, according to gas price tracker GasBuddy.

For Tampa Bay, that’s about 35 cents lower than a month ago and 50 cents lower than a year ago, based on GasBuddy’s daily surveys.

AAA, The Auto Club Group, still ranks the Tampa Bay area’s gas price averages the least expensive in the state. Overall, Florida gas prices average at $2.70 a gallon, according to AAA’s gas price tracker.

Cheaper fill-ups may not last for long, however.

On Friday, the Organization of the Petroleum Exporting Countries (OPEC) and Russia agreed to increase oil production. Patrick DeHaan, GasBuddy’s head of petroleum analysis, said in a news release that this could lead to higher or just leveled gas prices over the next week prior to the July 4 holiday.

To monitor live fuel price averages, visit GasBuddy’s website .

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Contact Hannah Denham at [email protected] Follow @hannah_denham1.

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