The average price of a gallon of gasoline declined 9 cents in the past eight days, providing some relief to Labor Day travelers and setting a new summer of 2022 low.
Drivers across Florida are finding gas prices averaging $3.52 statewide, AAA — The Auto Club Group reported Tuesday, down from the $3.61 seen in AAA’s previous weekly report put out Aug. 29.
The $3.52 also falls below the previous low for the summer of $3.53 that AAA recorded in late August. That prior mark was followed by a brief rise in gas prices during the last week in August.
The average full, 15-gallon tank of gas now costs nearly $53. That’s $20 less than what drivers paid in mid-June, when Florida’s state average was at its all-time high of $4.89 per gallon.
“Pump prices are falling after sharp drops in the oil and gasoline futures markets last week,” AAA spokesperson Mark Jenkins said in a news release.
“The losses were fueled by growing concerns that a global recession and COVID-19 outbreaks in China would stifle global fuel demand. If sustained, this downturn could enable the state average gas price to eventually slip into the $3.30s. However, oil prices were gaining strength Monday night, after OPEC and its allies announced plans to cut production in (an) effort to stabilize falling energy prices.”
Futures markets saw mixed news in recent days.
On Monday, OPEC and Russia agreed to cut output by 100,000 barrels a day in October. This is the group’s first production cut in more than a year. Following the announcement, the U.S. price of oil was up by more than 2% in overnight trading. The increase, if sustained, amounts to an increase of about $2 per barrel for the price of crude. That would only erase a third of the losses the oil market suffered last week.
On Friday, the U.S. price of crude settled at $86.87 per barrel, after falling by more than $6 a barrel from the week before.
Florida’s least expensive gasoline last week was found in the Crestview-Fort Walton Beach market, where drivers saw an average of $3.35 per gallon. That was followed by Pensacola at $3.39; Panama City at $3.43; Orlando at $3.46; Sarasota at $3.47; Tampa and the Melbourne-Titusville market at $3.48; St. Petersburg at $3.49; and Jacksonville at $3.50.
The Sunshine state’s most expensive gas again was found in the West Palm Beach-Boca Raton market, where it averaged $3.72 per gallon. That was followed by Tallahassee at $3.64; Naples at $3.59; Gainesville and Miami at $3.57; and Fort Lauderdale at $3.56.
September 6, 2022 at 8:57 am
It was $2.17 a gallon the day Der Fuhrer declared war on the oil industry. Spin away Democrats.
September 6, 2022 at 10:59 am
Der Furher? Biden didn’t try to overturn and free and fair election using riots, lies, coercion, and frivolous litigation. You clowns are full of shit.
September 6, 2022 at 11:17 am
Gas prices are lower than in 2008. Outrageous RECORD PROFITS of oil companies are the cause! And, they receive BILLIONS in TAXPAYER SUBSIDIES from you!
September 6, 2022 at 10:17 am
Nice try, but the gas is twice as high as it was pre-Biden. Biden put the economy into a tailspin and in 2 months voters will have a chance to correct course.
September 6, 2022 at 10:56 am
Demand for gasoline was super low thus the price was super low. Unless there is some catastrophic event…gas will never be that low again. You attributing low gas prices to Trump and not the Trump virus is chicanery and nonsense. You people are full of poo poo. Need a good smack…
September 6, 2022 at 11:16 am
More White House parroting and thanks for verifying that Biden will not lower the gas prices ever again.
When he is removed due to his impeachment gas prices will be low again the very next day.
September 6, 2022 at 12:07 pm
You so full of poop that’s it’s coming out of your eyes and nose. That and the oil and gas industry is not nationalized so how can a president lower gas prices at will? The market and the capitalists control the price. What have you got to say about them? Nothing! You just use the situation to bash Biden. You people are stupid as fk
September 6, 2022 at 12:35 pm
No no no you shouldn’t smoke it no more aren’t you tired of waking up on the floor… what have you been smoking or snorting or both?!
You are making a fool of yourself as the Democratic talking points are ridiculous. You should get a mind of your own. Parroting Biden’s lies is hysterical especially when they have been proven to be false.
September 6, 2022 at 1:55 pm
Nobody has stated any “Democratic talking points.” You barely make any sense and just pull nonsense out of your bung hole 🍩 Have beliefs based on whatever nonsense you can come up with.
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