LETTER TO THE EDITOR: Florida gas prices dip down slightly through holiday weekend, but the future is unknown with a volatile fuel market
July 8, 2022
By Boca Beacon Reader
Experts believe that gas prices are being dragged lower by falling crude oil prices, which suffered steep losses this past week on worries of a global economic slowdown. If these futures price drops hold, drivers could see Florida gas prices drift back below $4.10 per gallon. However, this is still an extremely volatile fuel market. On Tuesday, the price for U.S. crude oil plummeted, falling below $100 a barrel for the first time in eight weeks. Tuesday’s closing price of $99.50 per barrel is nearly $9 (16 percent) less than the week before, and the lowest daily settlement since April 25.