Oil and gasoline futures prices plummeted on demand concerns, as the end of summer driving season approaches

22 August 2021

Single Gas Price - 2.98.png

 

Florida gas prices are down 3 cents from a week ago and are about to slip even lower, unless futures prices can recover from sharp declines last week.

The price of U.S. crude dropped nearly 10% last week, settling $6 per barrel less than the week before. Meanwhile, gasoline futures dropped 24 cents (12%). Wholesale gasoline prices haven’t been this low since April, when the average price at the pump was below $2.80 per gallon.

"The delta strain of Covid-19 continues to drive fuel prices," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The busy summer driving season ends in September and market watchers are worried that Covid-19 will cause demand to drop more dramatically than it has in previous years. If crude oil and gasoline futures hold at current levels, prices at the pump could drop more than 20 cents per gallon in the weeks to come."

Last week, the state average dropped below $3 per gallon for the first time since August 3rd. Florida gas prices are now averaging $2.98 per gallon. The state average is 3 cents less than a week ago, the same price as last month, 90 cents more than a year ago, and 59 cents more than this time in 2019.  

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.14), Panama City ($3.10), Tallahassee ($3.06)
  • Least expensive metro markets – Punta Gorda ($2.86), Ocala ($2.91), Orlando ($2.92), Tampa-St. Petersburg-Clearwater ($2.92)

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. Members who enroll between July 1 and August 31, 2021 can save 30 cents per gallon on their first fill up. 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
(Price per gallon of regular unleaded gasoline)

Sunday Saturday Week Ago Month Ago One Year Ago Record High
National $3.163 $3.166 $3.184 $3.159 $2.189 $4.11   (7/17/2008)
Florida $2.979 $2.985 $3.013 $2.977 $2.075 $4.08   (7/17/2008)
Georgia $2.967 $2.970 $2.961 $2.974 $1.994 $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 AAA - The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 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.