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Florida gas prices are down, but recent sanction news could change that

Gas prices are down in Florida 5 cents over the week on average and 7 cents on average in Tampa Bay, according to AAA, The Auto Club Group. Pictured is a man filling up gas in St. Petersburg in 2016. [SCOTT KEELER | Times, 2016]
Published Apr. 22

State and local gas prices are down over the week, but where prices go next depends heavily on how the market reacts to recent oil news, according to AAA, the Auto Club Group.

Florida's gas prices averaged $2.74 a gallon Monday, down 5 cents over the week, while Tampa Bay prices were $2.71 a gallon on average, down 7 cents over the week.

What happens now with gas process is unclear, said AAA spokesman Mark Jenkins. President Donald Trump said recently that beginning in May, countries that import oil from Iran will be subject to U.S. sanctions. Some countries, including Japan and China, were previously exempt from sanctions.

"How the market digests this news will tell the story of where pump prices go from here," he said. "So far, it's looking like a 5 cent hike, but that outlook could be different by Monday night."

Nationally, gas averaged $2.82 a gallon Monday.

Contact Malena Carollo at mcarollo@tampabay.com or (727) 892-2249. Follow @malenacarollo.

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