Gas prices tumble further in Florida, hit two-month low

The average price of a gallon of gasoline fell another 15 cents last week, settling at $4.27 per gallon, according to AAA — The Auto Club Group.

That’s the lowest price Florida drivers have seen in two months, since before the late spring spike sent the average soaring to $4.89 in mid-June. The 62-cent-per-gallon drop in prices in about a month’s time equates to a $9 savings when filling a 15-gallon tank in Florida.

“For the first time in a couple months, drivers in some Florida cities are beginning to find pump prices below $4 a gallon,” said Mark Jenkins, spokesman for AAA. “Oil prices suffered significant drops last week, clearing the way for additional discounts at the pump.”

The recovery of reduced gas prices may not be over. Then again, with the prospects of hurricanes, new COVID-19 ramifications or other unforeseen events, anything is possible.

“Drivers are likely relieved to get a break from record-high prices, and prices could get even cheaper this week,” Jenkins continued.

“However, it’s important to remember that the market remains extremely volatile, and prices have the potential to bounce back. That particularly applies to hurricane season. If a major storm makes landfall along the gulf coast, impacting operations at refineries in Texas, Louisiana or Mississippi, prices could spike, due to concerns about fuel supplies.”

Last week, the U.S. price of oil dropped nearly $10 a barrel, though some of that reduction was lost by the end of the week, AAA reported. Friday’s closing price of $97.59 per barrel is $7.20 per barrel less than the week before.

On June 8, the U.S. price of crude was at $122.11 per barrel.

In Florida, AAA reported the least expensive gas in the Sebring, Crestview-Fort Walton Beach, and Melbourne-Titusville markets, at $4.08 per gallon. That was followed by Daytona Beach at $4.11; The Villages at $4.15; Orlando at $4.19; Jacksonville and Pensacola at $4.20; and Tampa at $4.21.

The Sunshine State’s most expensive gas continues to be pumped in the West Palm Beach-Boca Raton market, where it averaged $4.52 per gallon. That was followed by Naples at $4.51; Fort Lauderdale at $4.38; Miami at $4.36; Gainesville at $4.34; Tallahassee at $4.26; and St. Petersburg at $4.25.