Gas prices fall about 6 cents in Tampa area
TAMPA - Gas prices in Tampa Bay fell for a fifth week in a row, and now average $3.574 for a gallon of regular unleaded. That's down just under 6 cents per gallon from $3.632 this time last week and $3.887 this time last month. Statewide, the average price is now $3.633 per gallon, down from $3.685 a week ago and $3.933 a month ago. The drop comes as the price of oil has settled to $99.29 a barrel on the New York Mercantile Exchange — 93 cents less than last week.Prices fell after Saudi Arabia announced it will increase production quotas next month by 10 million barrels a day. "The fact that Saudi Arabia decided to increase output quotas is good news for consumers," said Jessica Brady, spokeswoman for AAA Auto Club South. "The increased supply should help keep oil prices below $100 a barrel and keep the downward momentum on retail gas prices." Gas prices have steadily decreased and are expected to move even lower this week. "If prices continue to drop as expected," Brady said, "we could see a much healthier travel outlook for Independence Day than we did during Memorial Day weekend."
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