Slowing Economy May Lower Gas Prices

By THE TAMPA TRIBUNE | Hernando Today
Published: January 14, 2008

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TAMPA - Gasoline prices should drop during the next few weeks as the cost of crude oil continues to decline as a result of a slumping economy, forecasters say.

The United States, along with Japan and China, consume 40 percent of the world's oil. Two of those countries - the U.S. and Japan - are facing a recession. That is having an effect on gas prices, according to AAA Auto Club South.

However, production of summer blended fuel is a process that lasts from February through May. That tends to push gas prices higher, said a AAA spokesman.

The current average in Florida for regular gas is $3.145 per gallon. The national average is just below $3.08.