Oil prices remain elevated, which is preventing a pump price plunge
Florida gas prices are declining as 5.5 million Floridians hit the road for the year-end holidays. The state average has declined the past 16 consecutive days for a total discount of 12 cents per gallon.
Florida drivers are now paying an average price of $2.42 per gallon. Although the state average is 4 cents less than a week ago, gas prices remain 5 cents more than last month and 18 cents more than this time last year. During the past few years, Florida gas prices on Christmas Day averaged $2.21 in 2018, $2.35 in 2017, and $2.32 in 2016.
“Elevated oil prices and issues at a massive Gulf Coast refinery are preventing prices at the pump from falling as fast as they did this time last year,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “As a result, year-end holiday gas prices are poised to be the most expensive in five years. But that’s unlikely to slow travelers down, because current prices are around the same level as a month ago – when most travel plans were finalized.”
Last week, the price of crude reached $61.22 per barrel. That was the highest daily settlement in three months and nearly $20 per barrel (48%) more than this time last year. The price of crude remains high due to small dips in U.S. crude supplies, continued optimism in a US-China trade agreement, and a strong dollar – which makes crude more expensive for traders using foreign currencies.
- Most expensive metro markets – West Palm Beach-Boca Raton ($2.55), Sebastian-Vero Beach ($2.50), Gainesville ($2.50)
- Least expensive metro markets – Tampa-St. Petersburg-Clearwater ($2.32), Orlando ($2.35), Punta Gorda ($2.37)
Find Florida Gas Prices
- Daily gas price averages can be found at Gasprices.aaa.com
- State and metro averages can be found here
|AAA GAS PRICE AVERAGES
(Price per gallon of regular unleaded gasoline)
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||2019 High
|2018 High||Record High|
|National||$2.549||$2.551||$2.556||$2.591||$2.337||$2.895||$2.97 (5/26/2018)||$4.11 (7/17/2008)|
|Florida||$2.418||$2.419||$2.457||$2.365||$2.235||$2.795||$2.92 (5/25/2018)||$4.08 (7/17/2008)|
|Georgia||$2.386||$2.386||$2.394||$2.424||$2.146||$2.735||$2.84 (5/27/2018)||$4.16 (9/15/2008)|
|Click here to view current gasoline price averages|