Florida gas prices inched lower last week. The state average declined by only 1-cent. After previously declining by margins of 3-4 cents, this was the smallest weekly decline in a month.
"The gas price plunge stalled out last week, after news of a possible COVID-19 vaccine sent crude oil prices higher," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The announcement restored some optimism within the fuel market, that fuel demand could eventually rebound. With the vaccine's widespread release likely months away, it's likely that gas prices will remain low through the rest of the year."
Crude oil prices rose $3 a barrel last week. It was an increase of 8% from the week before. Oil prices shot up early in the week upon news of a possible COVID-19 vaccine. However, that optimism cooled off toward the end of the week as reports of rising cases of coronavirus continued to roll in.
Florida gas prices have declined a total of 20 cents through the course of the past 43 days. Florida drivers are now paying an average price of $1.99 per gallon. The state average is 1 cent less than a week ago, 15 cents less than last month, and nearly 40 cents less than this time last year.
|Lowest gas prices in Apopka as of November 16, 2020|
Most expensive metro markets – West Palm Beach-Boca Raton ($2.15), Pensacola ($2.10), Panama City ($2.09)
Least expensive metro markets – Punta Gorda ($1.88), Orlando ($1.91), Tampa-St. Petersburg-Clearwater ($1.92)
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||Record High|
|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.
The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow on Facebook, Twitter and LinkedIn.