Florida's average gas prices have officially dropped to $2.95, 3 cents down from Sunday and 35.7 cents since last week, according to data collected by the American Automobile Association.
Nationwide, retail gasoline prices have dropped 32 cents in the past week from $3.24 to $2.92 Monday. In South Florida, gas prices are expected to drop more to below the $3-mark during this week.
On Monday, average prices for regular fuel was at $3.03 in Broward, $3 in Palm Beach and $3.10 in Miami-Dade counties.
Crude oil has dropped over 52 percent since July when crude oil traded at an all time high of just over $147 per barrel -- tumbling to around $70 a barrel, the price floor for crude may establish itself soon.
The Organization of Petroleum Exporting Countries, known as OPEC, has called for an emergency meeting this week to discuss cutting crude oil production by 1 or 2 million barrels of oil a day.
