AAA released a study on Sunday showing gas prices continue to drop in Florida.
This week began with the average gallon of gas in the Sunshine State costing $3.48, down eight cents from the start of last week and dropping 24 cents a gallon over the past month. The national average stood at $3.54 on Sunday.
“Weakness in the oil market has contributed to the recent drop in gas prices,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “That weakness has been driven by domestic economic concerns. Underwhelming Chinese economic indicators have also created uncertainty about global fuel demand. With continued volatility in the fuel market, it’s unclear whether this downward trend will continue in the lead-up to the busy Memorial Day travel weekend.”
AAA looked at falling oil prices, noting “the U.S. price of crude has fallen 15 percent during the past month” and “Friday’s closing price of $70.04 per barrel the lowest daily settlement in 7 weeks and $13.22/b less than the 2023 high – set on April 12th.”
The West Palm Beach-Boca Raton market had the most expensive gas in the state, with an average of $3.72 a gallon, followed by Naples with an average of $3.61 a gallon and Miami with an average of $3.58 a gallon.
Pensacola had the least expensive gas in the state with an average of $3.14 a gallon, followed by Panama City with an average of $3.15 a gallon and the Crestview-Fort Walton Beach area with an average of $3.17 a gallon.
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