Gas Prices Start to Level Off in Florida According to New Report

After dropping 66 cents a gallon over the past ten weeks, gas prices in Florida are starting to level off as residents of the Sunshine State begin driving again.

AAA released a report this week showing the average gallon of gas in Florida cost $1.76 on Sunday, down from $1.77 at the start of last week. The national average stood at $1.84 a gallon on Sunday.

“The driving force behind plunging pump prices was low gasoline demand, which sank as much as 75 percent below normal levels during the lockdown. Since the phased reopening began last week, gasoline demand has improved to only 40 percent below year-ago levels,” AAA noted.

“The plunge at the pump appears to be over now that Floridians are driving more often,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “The rising demand has restored optimism in the fuel market, causing higher crude oil and gasoline prices. Wholesale gasoline prices also increased last week, but not yet to a level that demands retailers to raise their rates.”

The West Palm Beach-Boca Raton area had the most expensive gas in Florida at $1.93 a gallon followed by Gainesville at $1.92 and Fort Lauderdale at $1.87.

Jacksonville had the least expensive gas in the state at $1.63 a gallon followed by Punta Gorda at $1.64 and Pensacola at $1.65.

LEAVE A REPLY

Please enter your comment!
Please enter your name here