AAA: Gas Prices Drop in Florida Despite Busy Independence Day Weekend

According to a report from AAA on Tuesday, Florida gas prices declined through the Independence Day holiday weekend, even as a record number of Americans were forecast to take a road trip.

The average price for gasoline in Florida was $4.54 per gallon on Tuesday. The state average has declined almost 10 cents since last week and has dropped a total of 35 cents through the past three weeks.

The national average stood at $4.80 a gallon on Tuesday.

Mark Jenkins, a spokesman for AAA and the Auto Club Group, weighed in on gas prices in Florida on Tuesday.

“Gas prices are being dragged lower by falling crude oil prices, which suffered steep losses on Tuesday, amid concerns that the U.S. economy could be headed for a recession,” said Jenkins. “If these futures price drops hold, drivers could see Florida gas prices drift back below $4.10 per gallon. However, this is still an extremely volatile fuel market, and we’ve seen oil prices rebound so many times in the past several months.”

On Tuesday, the price of U.S. crude oil plummeted, falling below $100 a barrel for the first time in eight weeks. Tuesday’s closing price of $99.50 per barrel is nearly $9 (16 percent) less than the week before, and the lowest daily settlement since April 25.

Over the holiday weekend, drivers found the most expensive Independence Day gas prices on record. The average price on July 4th was $4.55 per gallon. That’s $1.54 per gallon more than last year’s holiday, and 49 cents per gallon more than the previous record-high of $4.06 per gallon – set back on July 4, 2008.

The West Palm Beach-Boca Raton area had the most expensive gas in the state with an average of $4.72 a gallon followed by Naples at $4.64 a gallon and Miami at $4.63 a gallon.

The Crestview-Fort Walton Beach area had the least expensive gas in the state with an average of $4.38 a gallon followed by Panama City at $4.43 a gallon and Melbourne-Titusville at $4.44 a gallon.

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