For the first time since June, the average price of a gallon of gas in Florida dropped below $2.
On Sunday, AAA released a study showing the average gallon of gas in the Sunshine State cost $1.99, down a penny from the start of last week. Across the nation, the average gallon of gas cost $2.13 on Sunday.
“The gas price plunge stalled out last week, after news of a possible COVID-19 vaccine sent crude oil prices higher,” explained Mark Jenkins, a spokesman for AAA and the Auto Club Group. “The announcement restored some optimism within the fuel market, that fuel demand could eventually rebound. With the vaccine’s widespread release likely months away, it’s likely that gas prices will remain low through the rest of the year.”
“Crude oil prices rose $3 a barrel last week,” AAA noted. “It was an increase of 8 percent from the week before. Oil prices shot up early in the week upon news of a possible COVID-19 vaccine. However, that optimism cooled off toward the end of the week as reports of rising cases of coronavirus continued to roll in.”
The West Palm Beach-Boca Raton area had the most expensive gas in the state with an average of $2.15 a gallon followed by Pensacola with an average of $2.10 a gallon and Panama City with an average of $2.09 a gallon.
Punta Gorda had the least expensive has in the state with an average of $1.88 a gallon followed by Orlando at $1.91 a gallon and the Tampa-St. Petersburg-Clearwater area at $1.92 a gallon.