Florida gas prices lowest since April, but OPEC production cut could drive prices up again
Stock image via Adobe.

gas pump
Saudi Arabia announced plans to cut oil production next month by 1 million barrels per day.

At $3.36 per gallon on average statewide, gas prices in Florida are the lowest since April, according to AAA — The Auto Club Group.

Motorists in the Sunshine State paid 5 cents less per gallon on Sunday than they did the week prior.

The reason for the cheaper fuel, AAA spokesperson Mark Jenkins said, is a downturn in oil prices.

That might end soon due to another round of oil production cuts the Organization of the Petroleum Exporting Countries (OPEC) and its partners agreed to over the weekend.

“It’s unclear how much of an effect this will have on fuel prices,” Jenkins said, “but if oil prices rise significantly, drivers would likely see higher prices at the pump.”

Overnight, the U.S. price of oil traded at $72 per barrel. That’s just $1 more than Friday’s closing prices and within the same range oil prices have been in throughout the past month.

Oil prices rose after Saudi Arabia, the world’s largest oil producer and OPEC’s most influential member, declared Sunday it will reduce production by another million barrels per day beginning next month.

The kingdom’s output will drop to 9 million barrels per day, down from 10 million barrels daily last month.

Saudi Arabia’s announced production cut comes just over two months after several OPEC producers decided to reduce production by a combined 1.66 million barrels per day until the end of the year. The Saudi Energy Ministry then called the move a “precautionary measure” meant to stabilize the oil market.

This latest production cut was unexpected and will lead to greater costs through 2024, Bob McNally, president of analysis firm Rapidan Energy, told CNBC Monday.

“It once again demonstrated that Saudi Arabia is willing to act unilaterally to stabilize oil prices,” he said, noting the country unilaterally cut 1 million barrels daily in January 2021 as well. “We see large global deficits materializing in the second half of 2023 and crude prices exceeding $100 next year.”

In Florida, the most expensive metro market was West Palm Beach, where an average gallon of gas cost $3.60, followed by Naples and Miami, where gas costs $3.48 per gallon on average.

The cheapest markets were Crestview-Fort Walton Beach ($3.20), Panama City ($3.29) and Pensacola ($3.30).

Jesse Scheckner

Jesse Scheckner has covered South Florida with a focus on Miami-Dade County since 2012. His work has been recognized by the Hearst Foundation, Society of Professional Journalists, Florida Society of News Editors, Florida MMA Awards and Miami New Times. Email him at [email protected] and follow him on Twitter @JesseScheckner.


  • Michael K

    June 5, 2023 at 10:45 am

    Thank you, President Biden!

    Of course he has nothing to do with the cost of oil – a global commodity. But if he’s blamed when prices rise, he should also get the credit when prices drop, right?

    • MayaDenning

      June 5, 2023 at 11:15 am

      Google pay 95$ consistently my last pay check was $8200 working 10 hours out ofevery week on the web. My more young kin buddy has been averaging 15k allthrough ongoing months and he works around 24 hours consistently. I can’tconfide in how straightforward it was once I endeavored it out.This is myprimary concern………..



      Here►————➤ Usadoller5.blogspot.Com

  • PeterH

    June 5, 2023 at 11:57 am

    Saudi Arabia stated yesterday that they were cutting production to increase prices on July 1, 2023!

    Keep in mind folks that it costs $9.00 to fully charge an electric vehicle to travel 300 miles per charge.

Comments are closed.


Florida Politics is a statewide, new media platform covering campaigns, elections, government, policy, and lobbying in Florida. This platform and all of its content are owned by Extensive Enterprises Media.

Publisher: Peter Schorsch @PeterSchorschFL

Contributors & reporters: Phil Ammann, Drew Dixon, Roseanne Dunkelberger, A.G. Gancarski, Anne Geggis, Ryan Nicol, Jacob Ogles, Cole Pepper, Gray Rohrer, Jesse Scheckner, Christine Sexton, Drew Wilson, and Mike Wright.

Email: [email protected]
Twitter: @PeterSchorschFL
Phone: (727) 642-3162
Address: 204 37th Avenue North #182
St. Petersburg, Florida 33704