Florida gas prices are moving lower again, now that the fuel supplies have largely recovered from the record flooding that caused widespread outages in South Florida.
On Sunday, Florida gas prices averaged $3.65 cents per gallon. That’s 6 cents less than last week and 7 cents less than the 2023 high.
“In addition to stabilizing fuel supplies in Florida, the fuel market has cooled off in recent weeks,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Oil prices are on a 2-week streak of declines which should enable gas prices to steadily decline through the week.”
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Crude prices are now $5/b less than the highs set in mid-April after OPEC announced plans to cut oil production by a million barrels per day, beginning on May 1st.
On Friday, the price of U.S. crude oil settled at $76.78 per barrel. That’s down 1% from the week before, adding to the 6% drop the week before. The declines are attributed to global economic concerns, despite favorable gasoline demand and supply numbers.
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