Florida gas prices drop 7 cents, oil prices continue climb

gas pump supply (Large)
The average price per gallon of gasoline is $4.01, the lowest price since March 7.

Florida gas prices dropped 7 cents last week, continuing a nearly 25 cent per gallon decline over the past two weeks, AAA — The Auto Club Group reported Monday morning.

The average price per gallon of gasoline on Sunday was $4.01, the lowest price since March 7, according to the Auto Club Group data. It’s about 27 cents less than a month ago, and the lowest since Russia invaded Ukraine.

On Monday, the national average gas price was $4.08. Florida ranks about middle of the pack in the state rankings for average gas prices, with California and Nevada having average gas prices above $5, and states like Georgia, Texas and Ohio having prices in the $3.70-$3.79 range.

A year ago, the average gas price in the state was $2.83. Current gas prices exceed the pre-2022 record from 2008, although prices have not yet surpassed the 2008 prices when adjusted for inflation

However, the AAA is concerned the decrease could only be temporary. Crude oil prices have increased over the past week spurred by new potential sanctions against Russia, which could lead to a price spike at the pump, said Auto Club Group spokesperson Mark Jenkins.

“Gas prices have mostly declined through the past two weeks, but don’t be surprised if they rebound soon,” Jenkins said. “The price of oil jumped 8% last week, on reports that the European Union is preparing to ban Russian oil imports, which fuels ongoing concerns about global oil supplies. The crude increase could ultimately lead to an increase of 10 cents or more at the pump.”

Currently, the most expensive regional prices are all located in South Florida. The West Palm Beach-Boca Raton area has an average price per gallon of $4.23, while Fort Lauderdale and Miami are at $4.11 and $4.09 respectively.

The lowest gas prices are currently centered in pockets in the Panhandle and central Florida. The Crestview-Fort Walton Beach area has the lowest average price at $3.84, Pensacola is at $3.86 and Melbourne-Titusville is at $3.89.

Tristan Wood

Tristan Wood graduated from the University of Florida in 2021 with a degree in Journalism. A South Florida native, he has a passion for political and accountability reporting. He previously reported for Fresh Take Florida, a news service that covers the Florida Legislature and state political stories operating out of UF’s College of Journalism and Communications. You can reach Tristan at [email protected], or on Twitter @TristanDWood


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