Scott Powers
Florida’s gasoline prices fell 6 cents per gallon last week and are likely to continue to fall amid concerns that the coronavirus will reduce global demand for petroleum products such as jet fuel and gasoline.
The average price of a gallon of gasoline fell to $2.35 on Sunday and is expected to reach $2.28 soon, according to AAA — The Auto Club Group.
Friday’s closing price for crude was the lowest in more than a year. After six consecutive days of decline, the U.S. benchmark for crude oil plummeted $9 per barrel, settling at $44.76.
Gasoline futures prices also dropped by 26 cents per gallon on the New York Mercantile Exchange, according to AAA.
“Crude price drops of this significance can reduce the value of retail gasoline by more than 20 cents,” Mark Jenkins, spokesman, AAA — The Auto Club Group, stated in a news release. “It’s something that may not happen overnight, but if crude prices remain low, drivers could pay much less at the pump by the end of this week.”
In Florida on Sunday, the cheapest gasoline was found in Orlando, The Villages, St. Petersburg and Jacksonville at $2.27 per gallon. Punta Gorda and Tampa drivers were paying an average of $2.29.
Meanwhile, gas prices still were high in other markets. In West Palm Beach – Boca Raton, drivers were paying $2.50 per gallon; in Gainesville, $2.44; and in Miami, $2.42, according to a AAA gas prices map.
Nationally, gasoline was averaging $2.44 per gallon.
Elsewhere, Pensacola was averaging $2.32 per gallon Monday; Sarasota, $2.35; For Myers, $2.36; Fort Lauderdale, $2.39; Tallahassee, $2.39; and Gainesville, $2.43.
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 and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.
