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FLORIDA (SNN TV) – Gas prices decrease a little more on the Suncoast.
Gas prices are averaging $3.38 in the area, down from $3.40 a week ago and $3.54 a month ago.
Prices on the Suncoast are down 16 cents in the past month. Charlotte County is the cheapest, averaging $3.33 a gallon.
Demand for gas has decreased overall according to AAA, but oil prices have increased as Europe plans to ban Russian oil purchases. Russian president Vladimir Putin could retaliate by cutting Russian oil production. If oil prices continue to rise, the national average would likely reverse.
And since U.S.oil companies lost so much money due to overproduction during COVID, many would rather enjoy profiting off of high oil prices driven by lower supply.
