WEST PALM BEACH, Fla. - Gasoline prices now are 56 cents a gallon lower than the peak price of $3.97 for regular unleaded on April 7 and may drop ever lower in June, according to the AAA.
By month's end, a gallon of regular unleaded may average $3.25 in Florida — a price not seen since Dec. 27, 2011.
On Tuesday, a gallon is selling for about $3.41 statewide.
The drop is attributed to an easing of tensions with Iran and to a struggling international economy.
"Across the globe, pessimistic job reports and demand numbers have added nothing but bearish pressure to the market during the past several weeks," said AAA spokeswoman Jessica Brady
"While none of this is good news, at least it has caused gas prices to fall, providing some relief for motorists," she said Tuesday.
The United States economic news includes higher unemployment in May. At the same time, Europe's debt crisis appears to be worsening, increasing unemployment to record highs. And manufacturing is down in China, which is the second largest consumer of oil in the world.
That is lessening demand on oil supplies and a barrel of crude oil now is selling for less than $90 a barrel, a price not seen since October.
Florida's current price average, of $3.41 for regular unleaded, is lower than the national average of $3.59. The lowest prices are in Tennessee, where gasoline is retailing for $3.28 a gallon, according to AAA.