Pump prices are the lowest in 3 weeks
Florida gas prices dropped another 4 cents last week. The state average has now declined the past 15 consecutive days for a total discount of 6 cents.
Florida drivers are now paying the lowest gas prices since late July. The state average price for regular unleaded is $2.09 per gallon. That’s 4 cents less than a week ago.
On average, drivers are paying 36 cents per gallon less than this time last year. The cost for a full tank of gas is $31 - almost $6 less than this time last year.
"Gas prices are drifting lower, reaching the low $2.00-range in many markets," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Prices are declining as concerns about elevated cases of COVID-19 continue to dampen expectations for fuel demand. The current outlook has prevented crude oil prices from gaining any significant ground, thus keeping gas prices low."
Last week, the International Energy Agency (IEA) revised its global oil demand forecast for 2020. Before the pandemic, the IEA set 2020 global demand expectations at 101 million barrels per day. Now, that forecast is down to 91.9 million barrels per day. The IEA cites COVID-19 as the culprit, causing reductions in road and air travel. In the report, the IEA suggests that business travel will remain severely curtailed until a vaccine is found, while leisure travel will mainly be limited to domestic trips and short-haul flights; crimping the demand for jet fuel.
Crude oil prices are still holding within the $41-$42 per barrel range. On Friday, the price for US crude oil settled at $42.01 per barrel - 79 cents more than the week before.
- Most expensive metro markets – West Palm Beach-Boca Raton ($2.22), Gainesville ($2.15), Tallahassee ($2.14)
- Least expensive metro markets – Punta Gorda ($1.99), Orlando ($2.05), Fort Myers-Cape Coral ($2.05)
Find Florida Gas Prices
- Daily gas price averages can be found at Gasprices.aaa.com
- State and metro averages can be found here
AAA GAS PRICE AVERAGES
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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.
About AAA - The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, banking, financial services, and travel offerings to over 13.5 million members across 13 U.S. states, the province of Quebec and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Carolina, North Dakota, Tennessee, Wisconsin, Puerto Rico, South Carolina and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. Visit AAA on the Internet at AAA.com.