Florida gas prices declined an average of 7 cents during the past week. The state average has declined the past 9 consecutive days for a total decline of 8 cents.
Sunday’s state average of $2.71 per gallon is 7 cents less than a week ago, 8 cents less than a month ago, and nearly 10 cents less than this time last year. Year-to-date, the state average has averaged $2.48 per gallon – 11 cents less than the same period last year.
“Stabilizing fuel supplies and lower crude oil prices are leading to cheaper prices at the pump,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Recent declines in wholesale gasoline should allow the state average to slip another 5 cents or more in the next week or two. However, May is a very volatile month for gasoline and motorists should not be surprised if pump prices rise again before Memorial Day.”
The price of crude oil held relatively steady last week, averaging $61.83 per barrel; almost a dollar less than the week before. Friday’s daily settlement of $61.66 per barrel is nearly $5/b less than this year’s high – set two weeks ago. Meanwhile, gasoline futures dropped four cents on the NYMEX. Wholesale gasoline has declined nearly 10 cents in the past two weeks, which lowers the cost for retailers to purchase fuel.
Regional Prices
- Most expensive metro markets – West Palm Beach-Boca Raton ($2.78), Gainesville ($2.76), Miami ($2.76)
- Least expensive metro markets – Punta Gorda ($2.63), Pensacola ($2.66), Crestview-Fort Walton Beach ($2.67)
Florida Ranks:
- 18th in the nation among states with the least expensive average daily gas price ($2.71)
- 7th in the nation among states with the largest discount at the pump during the past week (7 cents per gallon)
- 24th in the nation among states with the largest discount at the pump during the past month (8 cents)
