Falling gas prices level off after oil price hike
Florida gas prices have been on a downward trend the past two weeks. In fact, some drivers in the state have found prices below $4 a gallon. However, that downward trend may level out, after the price of oil rebounded last week.
On Sunday, Florida’s average price for gasoline was $4.12 per gallon. That’s 6 cents per gallon less than a week ago, and 26 cents less than the record high of $4.38 - set a little more than two weeks ago. Despite the recent dip, pump prices remain 93 cents per gallon more than the 2022 low and 1.93 per gallon more than the lowest price in 2021.
"Global fuel supply concerns continue driving extreme volatility in the fuel market, leading to big swings in the price of oil," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "After seeing strong drops two weeks ago, oil rebounded last week to a level that should cause falling gas prices to level off."
On Friday, the U.S. price of oil settled at $113.90 per barrel. That’s $9.20 per barrel (9%) more than the week before. Despite the increase, oil remains almost $10 per barrel less than the 2022 high of $123.70/b reached nearly three weeks ago. The $10/b discount translates to a 25 cent drop at the pump - which already happened in the past two weeks.
Fuel Price Overview
- Sunday’s Florida Avg. - $4.12 per gallon
- Avg. Cost for a Fill-Up - $62 for a 15-gallon tank
- 2022 High - $4.38 per gallon
- 2021 High - $3.36 per gallon
- 2022 U.S. Oil Price High - $123.70 per barrel
- 2021 U.S. Oil Price High - $84.65 per barrel
- Most expensive metro markets – West Palm Beach-Boca Raton ($4.29), Fort Lauderdale ($4.23), Miami ($4.23)
- Least expensive metro markets – Orlando ($4.03), Punta Gorda ($4.04), Melbourne-Titusville ($4.04), Pensacola ($4.04)
Ways to Save on Gasoline
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle.
- Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
- Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 5 cents per gallon when they fill up at Shell. Click here for more information.
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||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.
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.