Florida gas prices drop 21 cents in 11 days as average hits $2.92 per gallon

Image via Paul Brennan of Pixabay.

Gas prices in Florida have fallen sharply over the past week and a half, reaching an average of $2.92 per gallon by Monday, according to AAA — The Auto Club Group.

While petrol costs are declining as the “unofficial end of the summer travel season” nears, AAA spokesperson Mark Jenkins said, prior pump price trends suggest the savings may not last long.

“(There is) no guarantee this decline will hold through the holiday weekend,” Jenkins said in a statement.

“For almost a year, Florida gas prices have followed a pattern of declining for about 10 days, then rebounding 10-20 cents. While that could happen this week, pump prices should remain lower than last year’s Labor Day levels.”

Last Labor Day, Florida gas prices averaged $3.30 per gallon. The state average hasn’t yet returned to that price. At the time, oil prices traded at roughly $70 per barrel. This past Friday’s closing per-barrel price for oil was $63.66.

The Sunshine State’s cheapest metropolitan market for gas-dependent motorists is, again, the Crestview-Fort Walton Beach area, where a regular gallon cost $2.76 Monday morning. Pensacola and Punta Gorda are tied for the second-cheapest at $2.81 per gallon.

Meanwhile, the most expensive metro market is the West Palm Beach-Boca Raton area, where drivers and motorcyclists are shelling out $3.07 per gallon, followed by Gainesville ($3.03) and Naples ($3).

Nationally, the average Monday morning was $3.16 per gallon.

Oklahoma had the least expensive gas, at $2.68 per gallon, followed by Mississippi ($2.69), Louisiana ($2.72) and Texas ($2.72).

California led the pack in priciness, with a gallon of gas costing $4.56, followed by Hawaii ($4.45) and Washington ($4.40).