Pump prices to level out as Floridians return to the road; after 10 weeks of loss, crude oil prices rose

By AAA

Florida gas prices may be nearing their floor as most of Florida prepares for the first phase of reopening on Monday. The lifting of stay-at-home restrictions has boosted optimism within the fuel market that gasoline demand will begin to rise.

After 10 weeks of mostly losses, crude oil prices rose 60 percent last week amid optimism that demand is beginning to pick up. The price for a barrel of US crude finished the week at $19.78 - the highest daily settlement in two weeks.

"The phased reopening of businesses and restaurants will signal a return to the road for many Florida drivers," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Gas prices have plummeted 65 cents in the past 10 weeks. While the increased demand may not cause a pump price surge, it may signal the eventual end of the plunge at the pump."

Florida gas prices are now averaging $1.77 per gallon - the lowest in four years. The state average is nearly 2 cents less than a week ago, 15 cents less than a month ago, and $1.02 per gallon less than this time last year.

Regional Prices

Most expensive metro markets – Gainesville ($1.93), West Palm Beach-Boca Raton ($1.93), Fort Lauderdale ($1.88)

Least expensive metro markets – Jacksonville ($1.61), Pensacola ($1.63), Panama City ($1.64)

Find Florida Gas Prices

Daily gas price averages can be found at Gasprices.aaa.com

State and metro averages can be found here

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.