Summer Ends in Florida With Low Gas Prices

Florida drivers looking to wrap up the summer on the road over Labor Day weekend should expect low prices at gas pumps across the Sunshine State.

AAA released a report on Monday showing that this week started with the average gallon of gas in Florida costing $2.37, down six cents from the week before and well under the national average of $2.59 a gallon.

The current price is also far lower than what Florida saw during the past two Labor Days. On Labor Day last year, the average gallon of gas in Florida cost $2.80 and in 2017 it cost $2.64.

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

“Labor Day travelers continue to benefit from lower oil prices this year as they fill-up for their Labor Day road trip,” said Jenkins. “Strong US oil production rates are holding oil prices about 15 percent below last year’s levels, reducing the cost of producing gasoline. Gas prices should remain low heading into the holiday, unless something threatens fuel supplies like geopolitical tension or a hurricane in the Gulf of Mexico.”

AAA also looked ahead to where gas prices could go later this week and into the fall.

“Labor Day marks the end of the busy summer travel season, and the last big surge in gasoline demand before the fall. The expectation of strong demand can promote a slight and temporary bump at the pump before the holiday. However, after Labor Day, refineries begin their seasonal switch to winter-blend gasoline. Summer-blend gasoline is more expensive to produce than winter-blend, because the EPA requires more additives in the warmer months of the year. The combination of both lower demand and fuel production costs typically puts downward pressure on pump prices through the end of the year,” AAA noted.

 

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