Florida gas prices are moving lower after oil and gasoline futures suffered big weekly drops. The national average price for regular unleaded is once again back below $5 a gallon. For now, it looks like the state average won't make it that high.
Florida gas prices averaged $4.82 per gallon on Sunday. The state average declined seven cents last week, after reaching an all-time high of $4.89 per gallon.
"Florida drivers are finally catching a break after several weeks of rising gas prices," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Gas prices are following oil and gasoline futures prices, which suffered significant losses last week. The losses are being tied to last week's rate hike from the Federal Reserve bank, sparking fears of a possible recession - which could lower fuel demand. Prices also faced resistance to reports that the Biden administration is considering possible limits on petroleum exports, in an attempt to strengthen domestic supply. Petroleum exports have accelerated in recent weeks, as countries compete for fuel in what has become an extremely tight fuel market. The increased competition for fuel has contributed to rising prices.
"If this downward trend holds, gas price drops could accelerate, moving the state average back around $4.50 per gallon," Jenkins continued. "But this fuel market remains extremely unstable, and things can change very quickly. It's looking less likely that the state average will surpass $5 a gallon, but the driving season is young."
The U.S. price of oil dropped 9% last week. Friday's settlement of $109.56 per barrel is $11.11/b less than the week before. Gasoline futures lost 38 cents on the week, for a combined 2-week loss of 46 cents.
Price | Station | Area | |
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$4.69
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Apopka |
$4.69
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Apopka |
$4.69
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Apopka |
$4.69
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Apopka |
$4.69
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Apopka |
$4.69
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Apopka |
$4.74
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Apopka |
$4.75
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Apopka |
$4.76
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Apopka |
$4.76
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Apopka |
AAA GAS PRICE AVERAGES |
Sunday | Saturday | Week Ago | Month Ago | One Year Ago | |
National | $4.983 | $4.989 | $5.010 | $4.589 | $3.070 |
Florida | $4.821 | $4.833 | $4.889 | $4.504 | $2.947 |
Georgia | $4.475 | $4.481 | $4.480 | $4.139 | $2.898 |
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.
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