While gas prices rose last week, AAA reports signs point to a potential decrease going forward as the price of crude oil continues a falling trend.
AAA reported Florida gas prices increased a little more than 6 cents last week. The state average was $3.46 per gallon on Sunday. They started the week at $3.49 on average in Osceola County. That's about a dime higher than the start of last week, but 8 cents lower than a month ago, and quite a bit lower than the $3.86 average this time last year.
"Although gas prices rose last week, fundamentals are moving lower," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Crude oil and gasoline futures prices finished the week sharply lower than the week before, which should enable gas prices to decline."
The U.S. price for crude oil has declined the last four consecutive weeks. During that time, the price of oil fell about $10 per barrel (-13%). Friday's closing price was $73.52 per barrel. That's the lowest daily closing price since June 4.
"Futures prices reportedly fell after the latest jobs report triggered concerns of an economic slowdown," Jenkins said.
