AAA: Gas Prices Falling Across Florida–and Should Continue to Drop–Due to Coronavirus, Saudi-Russian Price War

Gas prices in the Sunshine State continue to drop with more than 10 percent of gas stations across Florida seeing prices under $2 a gallon.

AAA released a report at the start of the week looking at where gas prices stand in Florida.

“Florida drivers are beginning to find gas prices below $2 a gallon in many markets. According to AAA, 11 percent of Florida filling stations have sub-$2 gasoline. That number is sure to rise in the coming days,” AAA noted.

“Low pump prices are likely to get even lower this week,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “The combination of the coronavirus and the ongoing price war between Saudi Arabia and Russia are contributing to some of the lowest futures prices since the Great Recession. Oil prices plunged early last week after Saudi Arabia pledged to flood the market with oil. As oil prices bottomed at around $33, gasoline futures continued to fall throughout the week. The effects of the coronavirus snowballed. Canceled flights and large events, school closures, and companies asking employees to work from home lead to less fuel demand.”

Across the state, the average gallon of gas in Florida cost $2.17 on Sunday, down 11 cents from the start of last week and 22 cents lower than two and a half weeks ago. The national average stood at $2.27 a gallon on Sunday.

“Although the average price for gasoline in Florida is $2.17, many drivers are paying much less,” Jenkins said. “More drops are coming this week. Retail prices are still catching up to big drops in wholesale and gasoline futures prices. Unless those prices suddenly bounce back, it’s likely that the state average will soon dip below $2 a gallon.”

West Palm Beach-Boca Raton had the most expensive gas in the state at $2.34 a gallon followed by Gainesville at $2.32 a gallon and Tallahassee at $2.27 a gallon.

Jacksonville and the Villages had the least expensive gas in the state at $2.05 a gallon followed by  Orlando at $2.08 a gallon.

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