TAMPA, Fla. - Nationwide motorists are paying the cheapest price at the pump since 2010. The average price of gas has now fallen below the $3 mark in seventeen states. Georgia is one of the newest members of the $3 club, the average currently sits at $2.93. In Florida gasoline is hovering around $3.04, but in metro markets like Orlando, Pensacola, and Tampa motorists are have already seen the average dip below the $3 threshold. Meanwhile, Tennesseans are enjoying the second lowest gas prices in the nation. <br />
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"We are seeing gas prices falling at an average of 1-2 cents a day," said Josh Carrasco, spokesman, AAA - The Auto Club Group. "Motorists are saving 65 cents on average for every gallon they pump into their tank, when compared to the peak price of $3.70 in April. That's extra money consumers can now use in other areas like holiday shopping."<br />
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WTI, the benchmark for crude oil in the U.S., fell $1.08 on Friday to close the week at $81.01. Oil prices hit a two year low on October 16th, briefly falling below $80 a barrel. Analysts predict the price of oil could fall as low as $75. <br />
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"Cheaper oil equals cheaper gas," said Carrasco. "Oil accounts for two-thirds of the price at the pump. Right now, demand is low and oil production in the U.S. is at almost a 30 year high. Lower oil prices means more money in consumers pockets."<br />
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The national average for a gallon of unleaded gasoline is $3.05, down 6 cents over last week. Motorists in Florida, Georgia and Tennessee are enjoying the lowest gas prices since December 2010. The price in Florida dropped 11 cents this week to $3.04. In Georgia, the average is $2.93, sliding 12 cents on the week. Only one state is selling gas cheaper than Tennessee where the average is down 9 cents at $2.80 a gallon.
