Gas prices in Florida have been on the rise for the last week, working their way further into the three-dollar range. Even as the pressure at the pump is renewed for Sunshine State drivers, a downward trend in the cost of crude oil may bring lower prices in the near future.
According to a report from AAA the average cost of a gallon of gas in Florida rose 15 cents in the last week, bringing the figure to $3.22. Fortunately, it then began to drift back downward to $3.19 as of Sunday. Still, even that more modest number is eight cents higher than the average price one week prior and six cents higher than it was this time last month. It is, however, 29 cents below the average Florida gas price one year ago.
Crude Oil and Gas Prices
As of Friday, the U.S. price for crude oil was at $61.99 per barrel, the lowest it’s been since April 2021. By Sunday, AAA reported that it was below $60.00 per barrel. Though it only affects about half of the price that consumers pay when they fill their vehicles, AAA says, this should help enact lower prices in the near future.
“Oil prices plummeted last week, which should contribute to lower prices at the gas pump,” said AAA spokesperson Mark Jenkins. “The oil price plunge is reportedly attributed to concerns that tariffs could cause a global economic slowdown, potentially resulting in a reduction in fuel demand. The market is also now worried about an over abundance of global oil supplies. This comes after OPEC+ announced plans to raise oil production in May by about three times more than previously planned.”
Trends Local and Statewide
Florida’s average cost of gas falls about eight cents below the national average as of Monday, according to AAA’s data. Flagler County has a slightly high average gas cost for the state right now, sitting at $3.21 as of Monday. At the same point in time Volusia County was marked at $3.19, with St. Johns County at $3.18 and Putnam County at $3.16.
The Florida panhandle has the generally cheapest prices in the state, while the southern third of the state is widely paying the most. Florida continues to see higher prices than Georgia to the north, a trend that’s been ongoing for the bulk of the decade so far.
It’s this time of year that the gas prices go up because of more people traveling. Now I’m talking here on the east coast. It started with Race week, then Bike week, then spring break, now the snowbirds going home, then you’ll have it come down some in about a month and then summer comes and it goes back up, then school starts and it comes back down, then you have the holidays, thanksgiving and Christmas and the snowbirds coming back to Florida, so it’s the same every year.