Average gas prices dip below $4 a gallon

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The average price of a gallon of regular unleaded gasoline in Florida has gone below $4 for the first time since early March.

The average price Monday was $3.92 a gallon, down 16 cents from a week earlier and 68 cents from a month ago, according to the AAA auto club.

It was also down 97 cents from a record high set in mid-June. “We’d seen gas price hikes of around 20, 30, even 50 cents per week earlier this year,” AAA spokesman Mark Jenkins said.

“It’s not quite as dramatic, but we are definitely fortunate to see them falling as they have here in the past month.”

But Jenkins warned the relief might be temporary, as gas and oil futures are increasing in price and OPEC has decided to stop boosting fuel production. Even with the recent decreases, the average price Monday was 95 cents a gallon higher than a year ago.

“There are still a lot of concerns about global fuel supplies, so things are extremely volatile right now,” Jenkins said. “We are seeing this drop in fuel prices, but they could certainly bounce back.”

The most expensive gas in Florida is in the West Palm Beach and Naples markets, while the cheapest gas is in the Fort Walton Beach and Melbourne markets.