Florida gas prices fall four cents as millions travel for year-end holidays

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

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

State and metro averages can be found here