Florida's state average of $4.27 per gallon is the lowest since May
Florida gas prices dropped another 15 cents last week. The state average is now on a 5-week streak of declines, falling a total of 62 cents per gallon.
Sunday, the average price for gasoline was $4.27 per gallon. This time last year, the price was $3 a gallon. On average it costs $64 to fill an average-sized 15-gallon tank of gas. That’s $9 less than what drivers paid when gas prices hit their peak of $4.89 in mid-June.
"For the first time in a couple months, drivers in some Florida cities are beginning to find pump prices below $4 a gallon," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Oil prices suffered significant drops last week, clearing the way for additional discounts at the pump. Although global supplies remain an ongoing concern, the EIA reported a steep drop in domestic gasoline demand. While this might be an anomaly, the market is taking it as an indicator that Americans could be shifting driving habits in response to high prices. Meanwhile, concerns about a new strain of COVID-19 and potential lockdowns in China, have reenergized global demand concerns.
"Drivers are likely relieved to get a break from record-high prices, and prices could get even cheaper this week," Jenkins continued. "However, it’s important to remember that the market remains extremely volatile, and prices have the potential to bounce back. That particularly applies to hurricane season. If a major storm makes landfall along the gulf coast, impacting operations at refineries in Texas, Louisiana, or Mississippi, prices could spike, due to concerns about fuel supplies."
Last week, the U.S. price of oil dropped nearly $10 a barrel, but recovered a couple bucks by the end of the week. Friday’s closing price of $97.59 per barrel is $7.20 per barrel (7%) less than the week before. That’s a far cry from where oil prices were a little more than a month ago. On June 8, the U.S. price of oil settled at a monthly high of 122.11/b. That drove the state average to a new record high of $4.89 per gallon. As a reminder, the price of oil accounts for about half the price of gasoline. When oil prices drop, so do gas prices.
- Most expensive metro markets – West Palm Beach-Boca Raton ($4.52), Naples ($4.51), Fort Lauderdale ($4.38)
- Least expensive metro markets – Sebring ($4.08), Crestview-Fort Walton Beach ($4.08), Melbourne-Titusville ($4.08)
|Gas Price Overview||Oil Price Overview|
Sunday’s Avg. Price - $4.27 per gallon
Cost for a Full Tank - $64 (15 gallons)
2022 High - 4.89 per gallon (June 2022)
2021 High - $3.36 per gallon (Nov. 2021)
Record High - $4.89 per gallon (June 2022)
Friday’s U.S. Oil Price - $97.59 per barrel
Previous Week’s Closing Price - $104.79 per barrel
2022 High - $123.70 (Mar. 8, 2022)
2021 High - $84.65 per barrel (Oct. 2021)
Record High - $145.29 per barrel (July 2008)
Ways to Save on Gasoline
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Pay with cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
- Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
AAA Resources for Drivers
- Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 30 cents per gallon on their first fill-up and 5 cents per gallon each additional trip to the pump. Click here for more information.
- Get a tune-up. Ensure your vehicle is properly maintained to optimize its fuel economy. Visit AAA.com/AutoRepair to find a certified repair shop.
- Find the lowest gas prices in your area by using the free AAA mobile app.
- Determine anticipated fuel costs for your trip by using the AAA’s Gas Cost Calculator.
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|
|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 AAA - The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 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 62 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 us on Facebook, Twitter and LinkedIn.