Florida gas prices hold steady amid global oil market volatility

After rising 10 cents last week, Florida gas prices fell slightly over the weekend, stabilizing at an average of $3.09 per gallon statewide Sunday — the same price as a week ago, according to AAA – The Auto Club Group.

“Florida gas prices remain in the same 30-cent range that Florida gas prices have fluctuated within since September,” AAA spokesperson Mark Jenkins said in a statement.

That range has kept retail fuel prices relatively predictable for months, despite significant global fluctuations in oil markets.

Oil prices surged roughly 6% last week, driven by mounting geopolitical tensions, robust U.S. economic indicators and ongoing supply constraints. The international benchmark for crude oil was $63.41 per barrel Friday, a jump from $60.79 the previous week.

Much of the pressure stems from renewed instability in Russia and the Middle East, which continues to rattle investors and limit output predictions.

Canadian wildfires have also disrupted oil supplies from Alberta, adding to global scarcity.

OPEC+ also adjusted production quotas last week, though analysts note the impact was minimal compared to other supply-side shocks.

Despite the upward push on oil markets, Florida’s pump prices have not surged in tandem.

In Florida, fuel costs vary widely by region. The most expensive metropolitan markets are West Palm Beach-Boca Raton ($3.26), Naples ($3.19) and Sebring ($3.15).

Meanwhile, Panhandle drivers are seeing the lowest prices at $2.76 in Crestview-Fort Walton Beach, $2.78 in Panama City and $2.86 in Pensacola.

Nationally, California has the highest average gas price ($4.70), while Mississippi has the lowest ($2.63).