The state average is now 10 cents more than a week ago
Florida gas prices could inch higher this week as more than 2.3 million Floridians prepare to take a road trip for Independence Day. The state average could reach $2.60 per gallon, primarily due to the growing tensions between the U.S. and Iran.
A total of 2.6 million Floridians will travel for Independence Day. Read the full Independence Day Travel Forecast here.
Pump prices already rose 11 cents last week, in response to a $5 per barrel increase in crude oil. Gas prices should rise again this week after a new report from the EIA showed strong demand and a larger-than-expected dip in oil and gasoline inventories.
Florida drivers are now paying an average price of $2.53 per gallon. The state average is 10 cents more than a week ago, yet 6 cents less than last month and 20 cents less than last year.
“The recent jump at the pump should not deter Floridians from hitting the road for Independence Day,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “AAA still expects the most traveled Independence Day on record, and low gas prices is one of the reasons why. Gas prices remain 20 cents per gallon less than what drivers spent last year on July 4th, and 26 cents per gallon less than the highest price this year. Crude prices have recently leveled out, so It’s unlikely pump prices will see a significant hike unless something unexpected occurs and oil prices suddenly spike.”
- Most expensive metro markets – Panama City ($2.63), West Palm Beach ($2.63), Naples ($2.60)
- Least expensive metro markets – Jacksonville ($2.49), Punta Gorda ($2.49), Orlando ($2.49)
Oil Price Insights
At the close of Friday’s formal trading session on the NYMEX, WTI dropped by 96 cents to settle at $58.47. Crude prices increased last week following surprising new data from EIA that showed total domestic crude inventories took a surprisingly large draw of 12.8 million bbl last week. At 469.6 million bbl, crude inventories are almost 53 million bbl higher this year over last, but the dramatic decline has the market concerned that the global crude market is tightening. Moreover, with OPEC and its partners meeting on Monday and Tuesday in Vienna, more market tightening may occur if the cartel decides to extend its current production reduction agreement of 1.2 million b/d through the end of the year. Additionally, China and the U.S. are meeting at the G-20 summit in Osaka, Japan tomorrow to discuss trade negotiations between the world’s two largest economies. The meeting will be closely watched since there is growing global concern that an escalation of the tensions could decrease demand for crude for the remainder of the year. Crude prices could fall next week if it appears both countries are not close to a resolution.
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||$2.716||$2.716||$2.661||$2.820||$2.853||$2.895||$2.97 (5/26/2018)||$4.11 (7/17/2008)|
|Florida||$2.533||$2.535||$2.429||$2.587||$2.725||$2.795||$2.92 (5/25/2018)||$4.08 (7/17/2008)|
|Georgia||$2.538||$2.534||$2.446||$2.599||$2.691||$2.735||$2.84 (5/27/2018)||$4.16 (9/15/2008)|
|Click here to view current gasoline price averages|
Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.
About The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9.9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 59 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. Visit AAA on the Internet at AAA.com.