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Gas prices dip below $2 a gallon at some Tampa Bay gas stations

 
The Rally at 12602 49th Street N in Pinellas County was selling gas for less than $2 a gallon on Thursday, joining several Tampa Bay area gas stations with prices less than $2 a gallon. Dawn Cate  |  Times
The Rally at 12602 49th Street N in Pinellas County was selling gas for less than $2 a gallon on Thursday, joining several Tampa Bay area gas stations with prices less than $2 a gallon. Dawn Cate | Times
Published Sept. 11, 2015

Some gas stations throughout Tampa Bay have dropped their gas prices below $2 a gallon this week and experts say prices will likely remain low through the rest of the year.

The average price for a gallon of regular gasoline in Tampa Bay on Thursday was $2.12, though some stations were reporting prices as low as $1.97, according to GasBuddy.com. The average price for gas in the state was $2.20 as of Thursday, according to AAA The Auto Group, a trade firm that tracks gas prices across the country.

A number of factors contribute to low prices. U.S. refineries are switching over to a cheaper blend of winter gasoline this month as the summer driving and leisure travel season winds down. Crude oil prices remain low worldwide, too.

"The last time we saw gas prices fall under $2 was at the beginning of this year, in January and February," said Gregg Laskoski, senior petroleum analyst with GasBuddy.com. "But there was some early momentum in August that contributed to the low prices we're seeing now."

The summer driving season ended with the national average price for gas at its lowest point for the Labor Day holiday in more than a decade, AAA data shows. Drivers paid an average of $2.40 per gallon at the pump, a savings of $1.04 per gallon compared with Labor Day last year.

Overall, the national average price for gas has fallen 22 straight days and dropped by 28 cents per gallon. That means drivers across the United States are saving 7 cents per gallon compared with one week ago and 20 cents compared with a month ago.

"A lot of people operate under the assumption that it's summer and gas prices are supposed to be high until Labor Day. That's clearly not the case this year," Laskoski said. "And we haven't even started the fourth quarter, which is traditionally a time of low prices."

Contact Justine Griffin at jgriffin@tampabay.com or (727) 893-8467. Follow @SunBizGriffin.