AAA: Pump Prices to Continue Downward Trend through Holidays

Gas prices across Florida continue to fall and the trend is expected to continue even as the holiday demand picks up, according to AAA.

An average gallon at the pumps in Florida stood at $3.27 as the week began, down from $3.30 a week earlier.

"Retail gas prices are forecast to decrease further as we near the year-end holiday travel period -- a welcome gift to motorists," AAA spokesperson Jessica Brady stated in a release. "Although gas prices are almost 20 cents more than they were last year, they are substantially less than this year's peak price of $3.98 a gallon."

No bump in price was anticipated because crude on the market dropped below $95 a barrel, falling nearly $6 a barrel in the past week on the New York Mercantile Exchange.

Factoring into the per-barrel prices, according to AAA:

• Europe's lingering debt issues and somber economic outlook continue to put downward pressure on oil prices.
• The dollar gained momentum after the value of the euro fell, curbing the appeal of oil as a commodity.
• Oil prices also dropped after OPEC agreed to increase output quotas to 30 million barrels a day to meet future expected growth numbers.

Nationally, an average gallon stood at $3.22 a gallon, 5 cents less than a week earlier.