-
Jan 28, 2008 6:56 pm US/Eastern
-
Digg |
Facebook |
E-mail
|
Print
Gas Prices Plunge, But Not For Long
MIAMI (CBS4) ―
It seems like everything is going up these days; from the cost of food to mortgages, rents, property taxes and insurance. Fueled by concerns that the economy could be slowing into a recession, believe it or not, the price of gas is actually on its way down.
Nationally, gas prices have dropped to about $2.98 for gallon for unleaded, according to Triple-A, which is a drop of about 9-cents in the last two weeks. In Florida, drivers are paying a bit more than the national average – about $3.10 a gallon.
In Miami, a gallon of regular unleaded is going for about the same as the state average of $3.10, in Ft. Lauderdale it's just a bit cheaper at $3.07 a gallon on average.
Smart shoppers have even found gas for less than $3-bucks a gallon in South Florida. Javier Mata likes paying less for gas, but he's not convinced downsizing to a smaller 4 cylinder car was enough for him.
"I see it's at $2.99 and that's good that's down, but it's still not enough," said Mata.
Oil analysts say recent losses on Wall Street have caused wholesale prices to drop over concerns about the sagging U.S. economy. Some industry analysts predict wholesale gas prices will remain low as Wall Street works through its latest case of economy jitters.
The U.S. Department of Energy believes increased consumer demand this spring could push prices as high as $3.50 a gallon, or higher.
CBS4'S
Eye on the Pump has the cheapest prices to get gas in your neighborhood.
(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)