TAMPA, Fla. (WFLA) — Florida gas prices fell 12 cents per gallon last week, extending the streak of declines to 31 days, according to the American Automobile Association.

AAA said the average price for a regular-grade gallon of gas in Florida was $3.16 on Sunday —That’s a total of 41 cents per gallon lower than a month ago and 11 cents per gallon more than a year ago.

AAA Public Relations Manager Mark Jenkins says the drop in price is due in part to economic recession concerns which have kept downward pressure on the global fuel market, causing crude oil prices to plummet.

“This should pave the way for additional discounts at the pump this week,” Jenkins said, adding that gas prices could fall below $3 per gallon by the Christmas holiday.

“Unless fundamentals change, the state average could easily sink below $3 a gallon before Christmas Day,” Jenkins said.

Pump prices are already below what drivers paid during last year’s holidays. In 2021, Florida gas prices averaged $3.23 per gallon on Christmas Day and $3.22 per gallon on New Year’s Eve.

Compared to the record-high gas price set back in June, the state average is now $1.73 per gallon less.