Over the past week, the average gas price in Tampa has fallen 8.4 cents per gallon. This follows the continual drop in nationwide gas prices which, in addition, came to a three-month low this week.
This puts the average price for a gallon of gas in Tampa at $3.44 as of May 22 and the national average at $3.70. Compared to this time last year, gas prices are down 31.3 cents per gallon in the Tampa area.
The national average gas price has been steadily decreasing since April 6 when it was at $3.93 per gallon.
Gas prices are expected to keep decreasing through Memorial Day and, according to many analysts, throughout the summer. This is due to decreases in oil costs and the overall domestic demand for gas due to the economy.
Whatever the reason, this surely comes as a sigh of relief for many drivers, especially after national average gas prices jumped 20 percent from January to April. Back then, many experts agreed that prices could potentially reach up to $5 a gallon this summer.
All eyes will be on Iran, though, as the dispute between Western nations and this Middle Eastern country's nuclear program comes to a head. The European Union is set to begin a ban on oil imports from Iran if the situation isn’t resolved by July. Some think that this could drive oil and, in turn, gas prices higher.
Whatever happens, load up now as gas in Tampa is CHEAP, relatively speaking. We'll keep you posted as more news arises.
