Florida drivers are continuing to see good news at the pump. Statewide, gas prices have dropped 15 cents per gallon last week. The state average has now declined for four consecutive weeks, falling a total of 47 cents during that time.
The average price for gas in Florida was $4.41 per gallon on Monday, though drivers in some regions are paying less than $4.20.
“The price declines are attributed to falling oil and gasoline futures prices, which suffered steep drops in recent weeks, due to concerns about a potential global economic recession, and how that could result in lower worldwide demand for fuel. However, there are still concerns about global fuel supplies, which is keeping somewhat of a floor on prices,” said Mark Jenkins, AAA spokesman.
He added that unless there’s a sudden rebound in the price of oil, the state average should drop below $4.30 this week.
The U.S. price for crude oil plummeted early last week, falling a total of $10 per barrel in two days, before erasing some of those losses by the end of the week. Settlement prices went from $108.43 per barrel a week ago, down to $98.53 on Wednesday. That was the lowest closing price for oil since April 2022.
Unfortunately, the oil market recovered some of those losses by the end of the week. However, Friday’s closing price of $104.79 per barrel remains $3.64 per barrel (3%) less than the week before.
Most expensive metro markets – West Palm Beach-Boca Raton ($4.63), Naples ($4.59), Fort Lauderdale ($4.52)
Least expensive metro markets – Crestview-Fort Walton Beach ($4.25), Panama City ($4.30), Melbourne-Titusville ($4.30)
Florida gas price overview
Monday’s average price – $4.41 per gallon
Cost for a full tank – about $66 (15 gallons)
2022 high – $4.89 per gallon (6/13/22)
2021 high – $3.36 per gallon (Nov. 2021)
All-time record high – $4.89 per gallon (6/13/22)
Ways to save on gasoline
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Pay with cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
- Drive conservatively. Aggressive acceleration and speeding reduce fuel economy.