Florida gas prices fall to lowest since February

Pumping gas at gas pump. Closeup of man pumping gasoline fuel in

Gas prices are the lowest they have been in several months.

Gas prices in Florida have declined for 18 consecutive days to their lowest point since February, according to AAA — The Auto Club Group.

The state average Monday morning was $3.28 per gallon. That’s 27 cents cheaper than when prices began to fall last month and the lowest daily average price since Feb. 28.

Sunshine State pump prices are now 17 cents lower than a week ago, 24 cents lower a month ago and 11 cents lower than this time last year. And that’s noteworthy; gas is typically more expensive in the Summer.

“Floridians and summer visitors will be pleasantly surprised when they go to fill up the gas tank this week,” AAA spokesperson Mark Jenkins said in a statement. “Gas prices are the lowest in several months because of weakness in the oil and gasoline futures.”

Oil prices ranged from $80 to $85 per barrel for most of March and April, but in the past three weeks, crude oil prices dipped 6%, bringing Friday’s closing oil price to $75.53 per barrel — an almost $5-per-barrel drop from three weeks prior.

Oil analysts at OPIS blamed instability in the petroleum markets to a stronger dollar and better-than-expected employment data, which raised concerns that the Federal Reserve might delay an interest rate cut. Doing so, pivotal market members believed, would stall fuel demand growth.

Analysts also attributed oil price losses to a recent agreement between OPEC and its allies to gradually relax some voluntary production cuts later in 2024, a move that could strengthen the global fuel supply.

The most expensive metro market in Florida for fuel is the West Palm Beach-Boca Raton area, where motorists are paying $3.50 per gallon on average to fill their tanks, followed by Naples ($3.42) and Miami ($3.38).

The cheapest gas, meanwhile, is in the Crestview-Fort Walton Beach area, where drivers and motorcyclists are shelling out $3.08 per gallon, followed by Panama City ($3.09) and Pensacola ($3.12).

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6 comments

Michael K
June 10, 2024 at 11:04 am

Thank you, President Biden!
- Impeach Biden
  June 10, 2024 at 11:18 am
  
  Still nearly one dollar per gallon higher than it was when Biden first took office and then declared war on the petroleum industry.
  - Charlene
    June 10, 2024 at 1:07 pm
    
    I have made $200 reliably in one day.That was my ideal day in my life and my boss was to a great degree content with me..CNN is additionally awed from my work and is outstandingly happy..check also unpretentious parts by open the affiliation and tap on HOME TECH OR MEDIA………
    
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  - rick whitaker
    June 10, 2024 at 1:37 pm
    
    HOWLER MONKEY, biden is doing a great job checking the attempts of OPEC to raise prices. biden’s use of the reserves and other smart moves, have kept prices relatively low in time of war. you are an idiot to not know all this. the correct info is out there if you weren’t so stubbornly obstinate in your rejection of all things not maga. does it make you feel like a big boy to pick on biden for bogus reasons? as i’ve said to you many times, grow up.
  - Michael K
    June 10, 2024 at 3:41 pm
    
    Honey, there is no war on petroleum – just huge campaign checks to corrupt politicians. Did you know that big oil companies set the price of oil – not the president? Did you know the US is producing more oil now than ever in history?
    
    If oil is so clean and wonderful, then why doesn’t our governor want them drilling for it here? Poison someone else’s neighborhood?
    
    One more thing: My solar panels give me free clean energy.
Gaslighting
June 10, 2024 at 12:27 pm

Floriduh will never that this administration for the recovery of the economic since they forget the Pandemic.