Florida gas prices fall to eight-week low

Florida gas prices have now fallen to their lowest levels in eight weeks, according to AAA Florida Auto Club data released Monday.

The average cost for a gallon of gas in the Sunshine State now stands at $2.78. It’s a decrease of only about a penny since a week ago, but it also represents a steady decline since March.

Most of the weekly declines have been modest, with the most notable about a 4-cent drop in the third week of April. But AAA Florida officials say the downward trend in gas prices is likely to come to an end soon.

“Gas prices have mostly declined for six consecutive weeks, as refinery activity recovered from power outages earlier this year,” said Mark Jenkins, AAA Florida spokesperson. “That downward trend is now in jeopardy. Crude and gasoline futures prices rebounded last week, after positive U.S. economic data increased market optimism about summer demand.”

As more and more people are getting coronavirus vaccines, economic optimism is increasing not only in Florida, but across the country. The price of crude oil on the global market has increased 2% in the past week and the gross domestic product jumped 6.4% in the first quarter of this year.

While gas prices have fallen to the lowest levels in eight weeks, the current price for gas is equal to levels two years ago long before the COVID-19 pandemic gripped Florida and the world.

The most expensive gasoline in the state could be found in West Palm Beach at $2.93 per gallon. Tallahassee saw the second most expensive gas at $2.92 followed by Panama City at $2.90.

Punta Gorda recorded the cheapest gas in the state at $2.67 per gallon followed by Orlando at $2.70 and the Tampa area at $2.71.

Florida’s average price for a gallon of gas is well below the national average, which stands at $2.90.