Gas Prices Expected to Drop

With the price of crude oil dropping for the second time this month, expect retail gasoline prices to be lower this week, AAA said, adding that the downward trend should continue with the possibility of lower prices by Memorial Day weekend.

Crude oil closed Friday at $71.61 a barrel on the New York Mercantile Exchange.

"Motorists may be very happy this Memorial Day weekend since retail gasoline prices will most likely be lower than expected," said Jessica Brady, manager of AAA public relations. "The economic uncertainty in Europe coupled with a strong U.S. dollar and ample supply of crude equal a formula that lowers both the price of crude oil and retail gasoline."

The national average price of unleaded regular gasoline is $2.87 per gallon. Florida's average price is $2.86 per gallon, both reflecting a four-cent decrease from last week.

In Orlando, a gallon of self-serve regular currently is $2.79, down 6 cents from a week ago.

Source: Orlando Business Journal