Florida gas prices fall to new 2020 lows

The state average dropped 8 cents last week; Additional discounts are expected this week

From AAA

Florida gas prices have fallen to the lowest level so far this year. The state average dropped 8 cents last week and should slip even lower in the coming days.

Florida drivers are paying an average of $2.45 per gallon at the pump. The state average has declined a total of 11 cents in the past 10 days.

"It took almost the entire month, but gas prices are finally beginning to follow a more traditional trend of declining in January," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "With the holiday travel season in the rearview and temperatures turning colder, Americans are not driving as much as they did a month ago. The lower demand has allowed gasoline stocks to swell. Wholesale prices have reached a low that - if they hold - could drag the state average below $2.35 in the next 10 days."

Despite the recent decline, the state average remains 22 cents per gallon more than this time last year. The difference amounts to an additional $3 for a full 15-gallon tank of gas. That difference could soon begin to narrow as crude oil prices move more in line with last year's levels.

Friday, WTI crude settled at $54.19 per barrel. The daily settlement is $4/b less than the week before and only 50 cents more than this time last year.

Regional Prices

Most expensive metro markets – West Palm Beach-Boca Raton ($2.59), Sebastian-Vero Beach ($2.53), Port St. Lucie ($2.51)

Least expensive metro markets – Punta Gorda ($2.36), Tampa-St. Petersburg-Clearwater ($2.38), Pensacola ($2.38)

Fast Florida Facts

Florida has the 25th lowest state average in the U.S. ($2.45)

Florida had the largest weekly discount of any other state in the U.S. (8 cents)

Florida drivers are now paying the lowest gas prices of 2020

Find Florida Gas Prices

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

State and metro averages can be found here