Florida gas prices have begun a slow decline

It comes after omicron concerns pulled down oil prices

(Noah Berger)

FORT LAUDERDALE, Fla. – Slowly but surely, our gas prices are getting a bit more tolerable.

Florida’s average price for a gallon of regular unleaded gasoline sits at $3.30 on Monday morning, a 4-cent drop from last week, according to data from the American Automobile Association.

AAA says that trend is likely to continue after crude oil prices plummeted amid concerns about the omicron variant of COVID-19.

Mark Jenkins, who analyzes fuel prices for AAA, said the price of U.S. crude dropped 13% after Thanksgiving and that Friday’s closing price of $66.26 per barrel is 15% below the price on the Wednesday before Thanksgiving.

“An oil price drop of that magnitude, if sustained, could potentially drive the state [gasoline] average back below $3 a gallon,” Jenkins said. “But it won’t happen overnight. Florida pump prices are falling at a rate of 1-cent a day. Unless that rate accelerates, it could take a few more weeks before pump prices fully adjust.”

Most Florida drivers are paying less than the national average of $3.36 per gallon.

In South Florida, average gas prices stand as follows on Monday morning:

  • Miami-Dade: $3.31
  • Broward: $3.35
  • Monroe: $3.60
  • Palm Beach: $3.48

For more information on Florida gas prices, click here.