Florida gas prices declined for the second consecutive week, declining a total of 19 cents per gallon. During the past week, the state average dropped 10 cents.
Drivers are now paying an average price of $3.40 per gallon. That’s the lowest daily average price in a little more than three weeks (January 19th).
“The downward trend at the pump may not last much longer,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Crude oil and gasoline futures prices jumped 9% last week, almost completely erasing the losses that led to the 2-week drop at the pump. This could cause falling pump prices to plateau, or possibly inch higher in the coming weeks.”
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Oil prices rebounded last week on news that Russia plans to cut crude oil production by 500,000 barrels per day, and OPEC has announced no plans to offset the loss. On Friday, the U.S. price for oil settled at $79.72 per barrel. That’s the highest price in two weeks.
Regional Prices
- Most expensive metro markets – West Palm Beach-Boca Raton ($3.62), Naples ($3.52), Fort Lauderdale ($3.48)
- Least expensive metro markets – Crestview-Fort Walton Beach ($3.18), Panama City ($3.21), Pensacola ($3.26)
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