Florida's Pump Prices Dip on Europe's Financial Uncertainty

The average gallon of gas in Florida stood at $3.41 this weekend, down 3 cents from a week ago, according to AAA Florida.

The dip comes as European leaders and the G-20 sought to resolve Europe's debt issues, causing concerns that put downward pressure on oil prices, stated AAA spokeswoman Jessica Brady. Meanwhile, the market did see a small rally after the U.S. Labor Department reported the unemployment rate dropped to 9 percent in October from 9.1 percent in September, Brady noted.

"Oil prices are stuck between an uncertain future for Europe's financial system and glimmers of hope for an economic recovery in the U.S.," Brady stated in a release. "Despite the slight increase in oil prices and the market's bullish sentiment, retail gas prices have actually decreased through the past couple of weeks. Reports from the Department of Energy show stagnant fuel demand numbers and weekly gasoline deliveries are 4 percent behind last year's numbers. Unless oil prices make significant gains this week, consumers may find minimal changes in prices at the pump."

A barrel of oil settled Friday at $94.26 on the New York Mercantile Exchange, up 94 cents more than the week prior.

The pump price is still nearly 60 cents higher than a year ago.