AAA: Florida gas prices drop 20 cents in nine days
TAMPA, Fla. (WWSB) - The price of oil suffered steep losses last week, enabling the price of gasoline to back off from record highs.
The state average price for gasoline is on a 9-day streak of declines, dropping a total of 20 cents per gallon, the AAA says. On Sunday, Florida drivers paid an average price of $4.18 per gallon.
“The oil market remains extremely volatile, after seeing big swings in both directions during the past few weeks,” said Mark Jenkins, of AAA - The Auto Club Group. “Fortunately, oil prices are well below the high we saw more than a week ago. This should enable gas prices to slip lower this week, unless oil suddenly spikes again.”
Two weeks ago, fuel prices surged after Russia invaded Ukraine. The U.S. price of oil reached a 2022 high of $123.70 per barrel. That $32 price increase resulted in a 90-cent jump at the pump. Since then, the price of oil has fallen, hitting a low of $95.04 a barrel Wednesday before bouncing back up to $104.70 on Friday.
So far, gas prices have dropped 20 cents per gallon, so another 25-cent discount is possible, Jenkins said, unless oil prices move higher again this week.
Fuel Price Overview
- Sunday’s Florida Avg. - $4.18 per gallon
- Avg. Cost for a Fill-Up - $63 to fill an average-size 15-gallon tank
- 2022 High - $4.38 per gallon
- 2021 High - $3.36 per gallon
- 2022 U.S. Oil Price High - $123.70 per barrel
- 2021 U.S. Oil Price High - $84.65 per barrel
- Most expensive metro markets – West Palm Beach-Boca Raton ($4.35), Fort Lauderdale ($4.28), Miami ($4.27)
- Least expensive metro markets – Punta Gorda ($4.08), Crestview-Fort Walton Beach ($4.08), Orlando ($4.10).
Copyright 2022 WWSB. All rights reserved.