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.

Read the full Year-End Holiday Travel Forecast

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.

Regional Prices

  • 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

AAA GAS PRICE AVERAGES
(Price per gallon of regular unleaded gasoline)
Sunday Saturday Week Ago Month Ago One Year Ago 2019 High
(YTD)
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

 

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