AAA Predicts Further Gas Price Declines for Memorial Day
It may seem strange to read, but $3.54 for a gallon of gas is considered a Memorial Day weekend relief for motorists.
A week before the three-day weekend, gas prices were down 8 cents a gallon from a week earlier on average in Florida, 35 cents below a month earlier, according to AAA.
The mark is 14 cents below the national average of $3.68.
AAA predicts the prices will continue to retreat this week as 30.7 million Americans hit the roads in their cars for the holiday -- more may be expected.
"Motorists will get the much-needed relief at the pump just in time for the Memorial Day weekend and will likely lead to an increased number of travelers, helping to jump-start the summer travel season," AAA spokeswoman Jessica Brady stated in a release. "Both oil and gas prices are forecast to decrease this week as global leaders meet to discuss a resolution for Europe’s debt issues.”
The lower prices come as the price of a barrel of oil closed at $91.48 on Friday on the New York Mercantile Exchange -- $4.65 less than the week prior.