Gas Prices in Florida Start to Dip Thanks to Drop in Crude Oil

According to a new report from AAA, Florida gas prices are down three cents from the start of last week and are about to slip even lower, unless futures prices can recover from sharp declines last week.

The price of U.S. crude dropped nearly 10 percent last week, settling $6 per barrel less than the week before. Meanwhile, gasoline futures dropped 24 cents (12 percent). Wholesale gasoline prices haven’t been this low since April, when the average price at the pump was below $2.80 per gallon.

“The delta strain of COVID–19 continues to drive fuel prices,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “The busy summer driving season ends in September and market watchers are worried that COVID-19 will cause demand to drop more dramatically than it has in previous years. If crude oil and gasoline futures hold at current levels, prices at the pump could drop more than 20 cents per gallon in the weeks to come.”

Last week, the state average dropped below $3 per gallon for the first time since August 3rd. At the start of the week, the average gallon of gas in Florida cost $2.98, down from $3.01 at the start of last week. The national average stood at $3.16 a gallon on Sunday.

The West Palm Beach-Boca Raton area had the most expensive gas in Florida with an average of $3.14 a gallon followed by Panama City at $3.10 a gallon and Tallahassee at $3.06 a gallon.

Punta Gorda had the least expensive gas in Florida at $2.86 a gallon followed by Ocala at $2.91 a gallon and Orlando and the Tampa-St. Petersburg-Clearwater area which both saw an average of $2.92 a gallon.

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