According to the latest Fuel Price Brief from AAA South, the average price for a gallon of regular unleaded in Florida fell by 6-cents last week to $3.37 per gallon. The national average fell by a nickel to $3.54.
AAA spokeswoman Jessica Brady says the reason for the decline is continued concern over the U.S. economy, the growing European debt crisis.
Oil prices continue to fall as well. On Friday, crude oil closed at $84.10 per barrel on the New York Mercantile Exchange.
Brady says as long concerns remain about the economy domestic and abroad, gas prices will likely continue their downward trend.
"Spain's bailout request of $125 billion could create some optimism in the market this week and has the potential to cause a slight uptick in oil prices, however it's very unlikely it will create a spike in pump prices," said Brady. "Retail gas prices continue to drop an average of 5 cents a week and in some areas, prices are nearing $3 a gallon."
If the trend continues, Floridians could be paying $3 per gallon by the July 4th holiday.
