Florida gas prices are the 14th lowest in the nation
Florida drivers are now finding the lowest gas prices of the summer driving season, which spans from Memorial Day to Labor Day. Monday’s state average of $2.42 per gallon is one cent less than the previous low, set back in June.
- On average, Florida drivers have paid 21 cents per gallon less than last summer.
- Since Memorial Day, gas prices have averaged $2.56 per gallon.
- The highest price this summer was $2.70 per gallon in July - 21 cents per gallon less than the highest price last summer.
- The highest daily average price so far this year was $2.80 per gallon, in April.
Compared to all other states, Florida has the 14th-lowest daily average price. It also had the second-largest monthly decline of any other state (-27 cents), and the fourth-largest yearly decline of (-34 cents).
"Florida drivers continue to benefit from oil prices that remain lower than last year," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Fortunately, the highest gas prices of the year, are likely far behind us. As long as economic and global demand concerns continue, it’s unlikely drivers will see a significant jump at the pump anytime soon."
Gasoline Demand Sets New Record High
Although pump prices have continued to fall this week, growing demand amid tightening stocks have helped to slow down the pace of the declines. New data from the Energy Information Administration (EIA) reveals demand for gasoline hit a new all-time high record at 9.93 million b/d for the week ending August 9. According to last week’s EIA the report, demand rose nearly 3% from the week before, to hit the highest level recorded by EIA since it began recording the data in 1991. The latest demand rate is nearly 4% higher than this time last year. The high demand level contributed to total domestic stocks falling by 1.4 million bbl to 233.8 million bbl. If demand increases amid falling stock levels in the week ahead, American motorists could see pump prices increase moderately ahead of Labor Day.
Crude Oil Prices Dip on Economic Concerns
Crude oil prices seesawed last week, but ultimately ended the week close to where they started. Market concerns continue about crude demand slumping this fall as a result of the ongoing trade dispute between the United States and China, the world’s two largest oil consuming countries. OPEC expects oil market fundamentals to decline for the rest of 2019, due to a slowing economy. OPEC forecasts this year’s crude demand growth will hit 1.1 million b/d on a year-over-year basis. The new rate reflects a slight dip of 40,000 b/d due to a slowdown in global demand trends in the first half of 2019.
- Most expensive metro markets – Panama City ($2.58), Tallahassee ($2.56), West Palm Beach-Boca Raton ($2.54)
- Least expensive metro markets – Punta Gorda ($2.34), Orlando ($2.37), Melbourne-Titusville ($2.37)
- 14th in the nation with least expensive average daily gas price ($2.42)
- 2nd in the nation for largest monthly change (27 cents)
- 4th in the nation for largest yearly change (34 cents)
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
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago||
|2018 High||Record High|
|National||$2.618||$2.621||$2.648||$2.784||$2.837||$2.895||$2.97 (5/26/2018)||$4.11 (7/17/2008)|
|Florida||$2.419||$2.427||$2.430||$2.688||$2.763||$2.795||$2.92 (5/25/2018)||$4.08 (7/17/2008)|
|Georgia||$2.463||$2.468||$2.515||$2.668||$2.720||$2.735||$2.84 (5/27/2018)||$4.16 (9/15/2008)|
|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.
About 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, financial services and travel offerings to over 9.9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico 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 59 million members in the United States and Canada and 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.