Florida gas prices hit 2-month lows

State average declines 47 cents over 4 consecutive weeks

While gas prices continue to be higher than we’d like across the U.S., Florida gas prices were down 15 cents from last week, keeping a steady decline for the past two months, AAA reported Monday.

According to AAA, the state average has now declined for four consecutive weeks, falling a total of 47 cents during that time.

“Floridians are getting some welcome relief from record high prices at the pump,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “The price declines are attributed to falling oil and gasoline futures prices, which suffered steep drops in recent weeks, due to concerns about a potential global economic recession, and how that could result in lower worldwide demand for fuel.

“However, there (are) still concerns about global fuel supplies, which is keeping somewhat of a floor on prices. Unless there’s a sudden rebound in the price of oil, the state average should drop below $4.30 this week.”

Florida gas prices are now averaging $4.42 per gallon, although some areas are seeing prices less than $4.20 per gallon.

According to AAA, it currently costs about $66 to fill a 15-gallon tank -- $7 less than when prices were at record-levels in mid-June.

“The U.S. price for crude oil plummeted early last week, falling a total of $10 per barrel in two days, before erasing some of those losses by the end of the week,” AAA reported in a news release. “Settlement prices went from $108.43 per barrel a week ago, down to $98.53 on Wednesday. That was the lowest closing price for oil since April 2022.

“Unfortunately, the oil market recovered some of those losses by the end of the week. However, Friday’s closing price of $104.79 per barrel remains $3.64/b (3%) less than the week before.”

The most expensive metro markets are currently West Palm Beach-Boca Raton ($4.63), Naples ($4.59), and Fort Lauderdale ($4.52).

The least expensive metro markets are Crestview-Fort Walton Beach ($4.25), Panama City ($4.30), and Melbourne-Titusville ($4.30) .

Gas Price Overview from AAA:

(Chart courtesy of AAA)

Daily gas price averages can be found at Gasprices.aaa.com

State and metro averages can be found here.

About the Author:

Amanda Batchelor is the Digital Executive Producer for Local10.com.