Gas prices, after experiencing a 4th of July lull, shot up last week, then lowered, then edged back up again.
That $3.51 per gallon average in Florida as of Sunday, per AAA, is lower than the $3.55 average in Osceola County. While prices backed off a couple pennies at the end of the week, it's still more than a quarter more than the $3.22 average we paid this time last month, or the $3.43 we were paying this time last year.
"Crude oil and gasoline futures are holding steady, in hopes that cooling inflation could cause the Federal Reserve to cut interest rates," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Market analyzers believes lower interest rates would lead to higher fuel demand."
The price of crude oil has stayed right around $82.20 per barrel for a couple weeks. That price is key to the price of the gas we buy at the pump.
So what does the near future hold? With the summer driving season in full swing, and supply dependent on Gulf refineries not having to stop production for storms in hurricane season, all bets are off.
