Fuel demand likely to rise as stay-at-home orders are eased in Florida
Florida gas prices may be nearing their floor as most of Florida prepares for the first phase of reopening on Monday. The lifting of stay-at-home restrictions has boosted optimism within the fuel market that gasoline demand will begin to rise.
After 10 weeks of mostly losses, crude oil prices rose 60 percent last week amid optimism that demand is beginning to pick up. The price for a barrel of US crude finished the week at $19.78 - the highest daily settlement in two weeks.
"The phased reopening of businesses and restaurants will signal a return to the road for many Florida drivers," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Gas prices have plummeted 65 cents in the past 10 weeks. While the increased demand may not cause a pump price surge, it may signal the eventual end of the plunge at the pump."
Florida gas prices are now averaging $1.77 per gallon - the lowest in four years. The state average is nearly 2 cents less than a week ago, 15 cents less than a month ago, and $1.02 per gallon less than this time last year.
- Most expensive metro markets – Gainesville ($1.93), West Palm Beach-Boca Raton ($1.93), Fort Lauderdale ($1.88)
- Least expensive metro markets – Jacksonville ($1.61), Pensacola ($1.63), Panama City ($1.64)
Find Florida Gas Prices
- Daily gas price averages can be found at Gasprices.aaa.com
- State and metro averages can be found here
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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.