Florida gas prices rise, but oil prices fall to 4-year lows

Florida’s average gas price jumped 15 cents to $3.22 per gallon last week before drifting lower again, according to AAA — The Auto Club Group, which said plummeting oil prices could herald cheaper gas soon.

The average statewide price Monday morning was $3.18 per gallon, 8 cents cheaper than the national price.

AAA spokesperson Mark Jenkins said plunging oil prices, reportedly attributed to concerns that tariffs could cause an economic slowdown and reduce fuel demands, “should contribute to lower prices at the gas pump.”

“The market is now also worried about an overabundance of global oil supplies,” he said in a statement. “This comes as OPEC+ announced plans to raise oil production in May by about three times more than previously planned.”

The U.S. price for crude oil settled at $61.99 per barrel Friday, the lowest daily closing price since April 2021. It then fell below $60 per barrel in overnight trading Sunday.

About half of what motorists pay at the pump is influenced by oil prices.

The most expensive metropolitan market in Florida for gas-reliant drivers and motorcyclists was the West Palm Beach-Boca Raton area, where fuel costs $3.33 per gallon on average, followed by Naples ($3.27) and Gainesville ($3.25).

The cheapest gas is in the Crestview-Fort Walton Beach area ($2.91), Panama City ($2.93) and Pensacola ($2.95).