SARASOTA – Gas prices decline 14 cents in the past week in Florida. This continues a 2 week decline, falling a total of 21 cents per gallon.
According to AAA, the drop is due to a decline in crude oil and gasoline futures prices, driven by the concern for the economy as the Fed raises interest rates to combat inflation.
As a whole, the US price of oil declined 11% during the past two weeks.
In Sarasota, they’re down close to 15 cents in the past week according to GasBuddy.com. The average price in Sarasota is now $4.65 per gallon. The cheapest station in Sarasota was priced at $4.39 a gallon Sunday while the most expensive was $4.99 per gallon.