For the first time since August 9, crude oil settled below $80 a barrel as fuel demand lags and economic concerns persist. Oil production in Libya has resumed an output quota of almost 600 million barrels a day. Libyan quotas are expected to reach one million barrels a day in the next six months. All of which drove down oil and gas prices throughout the past month. Crude oil settled Friday at $79.85 a barrel on the New York Mercantile Exchange—$8.11 less than the week prior. 

Average retail gasoline prices in Jacksonville have risen 0.2 cents per gallon in the past week, averaging $3.50/g yesterday. This compares with the national average that has increased 2.8 cents per gallon in the last week to $3.61/g, according to gasoline price website JacksonvilleGasPrices.com.

Average retail gasoline prices in Jacksonville have fallen 7.5 cents per gallon in the past week, averaging $3.54/g yesterday. This compares with the national average that has fallen 4.7 cents per gallon in the last week to $3.60/g, according to gasoline price website JacksonvilleGasPrices.com.