INDIAN RIVER COUNTY – In a measure of good news in these tough economic times, the price of gas in Indian River County is down from a high of $4.04 a gallon last year to a low Tuesday of $2.33 at the Cumberland Farms on 27th and Oslo Road.
Gas prices have been plummeting in Indian River County, according to the Web site FloridaStateGasPrices.com, just last month the average price of a gallon of gas was $2.66 and even last week was at $2.61.
According to Andrew Delmerge in his AAA Fuel Gauge Report Overview on aaa.com, the downward trend is being fueled by the recession gripping the global economy. In his report filed Monday, Delmerge said, “This latest correction is reminding analysts, consumers and the market in general what a difference a year can make when it comes to oil and gasoline prices. At this time last year, oil was trading just over $147 per barrel and retail gasoline was at an all-time high national average price of $4.11 per gallon. Since then, the global economy has slowed dramatically and many major economies – including the United States – find themselves struggling to shake off deep recessions.”
Aside from the low at Cumberland Farms on Oslo, in Sebastian Sparky’s Plant City and Murphy’s USA on U.S. 1 and the Cumberland Farms on Fellsmere Road were all at $2.41 a gallon. In Fellsmere, the Amoco station on Oak Street was low at $2.69, while the Chevron on North Broadway was high for the county at $2.89 a gallon.