WEST PALM BEACH, Florida – Florida gas prices jumped 15 cents per gallon last week, but relief may soon be on the way, according to AAA.
On Sunday, the state average for regular unleaded was $3.46 per gallon. That’s 12 cents less than this year’s high of $3.58 per gallon.
“There were significant losses in the oil market last week which should enable gas prices to move lower again,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The failure of two U.S. banks raised concerns of a global recession that could eventually hamper fuel demand.”
The U.S. price of oil dropped 13% last week, for a total loss of 17% over two weeks. Friday’s settlement of $66.74 per barrel was the lowest since December 2021.
But the gasoline market did not take quite as big of a hit, likely because strong springtime demand coupled with refinery maintenance season and the switch to summer gasoline is serving as somewhat of a buoy.
Regardless, gasoline futures dropped 24 cents through the past two weeks, which is an indicator that pump prices should move lower, unless fundamentals rebound this week, AAA forecasts.
The most expensive metro markets in Florida are West Palm Beach-Boca Raton ($3.63), Naples ($3.52), and Port St. Lucie ($3.51).
The least expensive metro markets are Crestview-Fort Walton Beach ($3.17), Panama City ($3.18), and Pensacola ($3.22)
Combine errands to limit driving time.
Shop around for the best gas prices in your community.
Pay with cash. Some retailers charge extra per gallon for customers who pay with a credit card.
Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
|AAA GAS PRICE AVERAGES |
(Price per gallon of regular unleaded gasoline)
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