Gas prices in the Sunshine State dropped last week, according to a new report from AAA.
The average gallon of gas in Florida cost $3.68 on Sunday, down from $3.70 a gallon at the start of last week. The national average stood at $3.81 a gallon on Sunday.
Over the past two weeks, gas prices in Florida lowered 17 cents a gallon on average.
Still, Mark Jenkins, a spokesman for AAA and the Auto Club Group, offered a warning this week.
“Although gas prices have recently declined, Florida drivers paid the most expensive Labor Day gas prices since 2012,” said Jenkins. “Where pump prices go from here is unclear, because oil and gasoline futures prices are moving in opposite directions.”
“Gasoline futures dropped by nearly 20 cents last week, as summer blend gasoline leaves the market and expectations are that fuel demand will move lower after Labor Day. Conversely, the U.S. price of oil jumped to a new 2023 high. Friday’s closing crude price of $85.55 per barrel was 7 percent higher than the week before and the most expensive daily settlement since December. The upswing is attributed to reports that Saudi Arabia would likely extend its 1 million b/d production cuts through October, which would contribute to continued tightness in global oil supplies,” AAA noted.
The West Palm Beach-Boca Raton had the most expensive gas in the state, with an average of $3.85 a gallon, followed by Naples at $3.80 a gallon and Gainesville at $3.79 a gallon.
Pensacola and the Crestview-Fort Walton Beach area had the least expensive gas in the state, with both markets at $3.47 a gallon, followed by Panama City at $3.52 a gallon.
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