Daytona Beach, FL – Local gas prices continue to sink like a stone as experts say $2 gasoline may be back in style by the end of the year.
AAA’s Daily Fuel Gauge report shows the current price of regular unleaded in the Daytona Beach area at $2.45 a gallon. That’s 5 cents below where it was a week ago ans 22 cents under where it was a month ago.
Local prices per gallon for mid-grade, premium and diesel have also fallen between 4 and 6 cents in the past week.
AAA spokesman Mark Jenkins says it’s been a similar trend through the Sunshine State as well as in Georgia and Tennessee.
“Gas prices are falling with very little resistance,” Jenkins added. “Oil prices are forecast to remain at [current levels] through the rest of the year.”
Barring any supply issues or a rise in the price of crude oil, Jenkins says it’s very possible that regular gas could be at $2 a gallon or lower sometime this fall.
West Texas Intermediate oil – considered the standard for setting the price of crude oil – closed at $43.87 a barrel on Friday, the lowest daily price since March 16th. That day’s price of $43.46 was a 6-year low for WTI.
Prices for a barrel of WTI crude were actually slightly higher when the Daytona Beach area last saw gas prices at $2 or under, according to AAA.
Florida’s current average for a price of regular unleaded is also $2.45, which is at its lowest point in the Sunshine State since March 26th, per AAA. That’s nearly a dollar cheaper than what it was at the same point last year.
Copyright 2015 Southern Stone Communications.