Florida gas prices drop for second week

Florida gas prices declined for a second consecutive week, dropping a total of 19 cents per gallon, AAA reported Monday.

According to AAA, gas prices dropped 10 cents last week and 9 cents the week before.

Drivers are now paying about $3.40 per gallon – the lowest daily average price since Jan. 19.

“The downward trend at the pump may not last much longer,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “Crude oil and gasoline futures prices jumped 9% last week, almost completely erasing the losses that led to the 2-week drop at the pump. This could cause falling pump prices to plateau, or possibly inch higher in the coming weeks.”

According to AAA, oil prices rebounded last week following news that Russia plans to cut crude oil production by 500,000 barrels per day. OPEC announced no plans to offset the loss.

The U.S. price for oil settled at $79.72 per barrel Friday -- the highest price in two weeks.

The most expensive metro markets are currently West Palm Beach-Boca Raton ($3.62), Naples ($3.52), and Fort Lauderdale ($3.48).

The least expensive metro markets are Crestview-Fort Walton Beach ($3.18), Panama City ($3.21), and Pensacola ($3.26).

About the Author:

Amanda Batchelor is the Digital Executive Producer for Local10.com.