While gas prices princes in Florida stood at the highest they have been in 2023 earlier this month, a new report from AAA shows they are starting to fall.
AAA reported that the average gallon of gas in Florida stood at $3.74 on Sunday, down from $3.83 at the start of last week. The national average stood at $3.85 a gallon on Sunday.
Mark Jenkins, a spokesman for AAA and the Auto Club Group, said prices could be rising again soon.
“Florida drivers are likely relieved to see gas prices move lower again, but that downward trend may not last long,” said Jenkins. “Last week, gasoline futures prices rebounded to the same levels that led to the 2023-highs we saw earlier this month. Since it can sometimes take a week or two before changes in the futures market hits the retail side, drivers could see gas prices move higher early this week or next.”
“Our partners at OPIS say gasoline futures rose as a number of refiners continue to grapple with hot weather, reducing petroleum output at a time when the country is seeing a late summer demand surge. Extreme heat can cause complications for refiners in the form of equipment failures, in addition to regional electrical outages and severe weather,” AAA noted.
“It’s not uncommon to see gas prices fluctuate during the summer months,” Jenkins continued. “The long term forecast is unclear, as hurricane season remains a major wild card. Gas prices could spike if a hurricane threatens refineries along the Texas, Louisiana and Mississippi coastlines.”
The West Palm Beach-Boca Raton area had the most expensive gas in the state on Sunday with an average of $3.91 a gallon followed by Naples at $3.88 a gallon and Gainesville at $3.83 a gallon.
The Crestview-Fort Walton Beach area had the least expensive gas in the state on Sunday with an average of $3.54 a gallon followed by Panama City at Pensacola which both stood at $3.57 a gallon.
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