Gas prices in Florida are dropping thanks in part to worries about coronavirus continuing to grow.
AAA released a report on Monday noting that crude oil prices are the lowest they have been since December 2018 due to expected lower demand due to coronavirus.
“Florida drivers may soon see significant savings at the gas pump. Stock market prices for crude oil and gasoline plummeted last week, amid concerns that the coronavirus will reduce global demand for products like jet fuel and gasoline,” AAA noted.
“Crude price drops of this significance can reduce the value of retail gasoline by more than 20 cents,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “It’s something that may not happen overnight, but if crude prices remain low, drivers could be pay much less at the pump by the end of this week.”
In the meantime, Florida gas prices dropped six cents a gallon in the past week to $2.35 a gallon, below the national average of $2.44 a gallon.
The West Palm Beach-Boca Raton area had the most expensive gas in Florida with an average of $2.50 a gallon followed by Gainesville at $2.44 a gallon and Miami at $2.42 a gallon.
Orlando and the Villages had the least expensive gas in Florida with a gallon averaging $2.27 in both markets followed by Punta Gorda at $2.29 a gallon.