Relief at the pump is arriving for Florida drivers as gas prices have taken a significant downturn in recent days. After a brief uptick earlier last week, the state’s average gas price has dropped by a substantial 10 cents in just four days.
As of Sunday, the average price of a gallon of regular gasoline in Florida sits at $3.11. This marks the lowest daily average seen in the state for the past two weeks, offering a welcome respite for motorists feeling the pinch of rising fuel costs.
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“The recent drop in crude oil prices now appear to be impacting prices at the pump,” explained Mark Jenkins, spokesman for AAA – The Auto Club Group. “The state average could drift back down near the $3 per gallon threshold this week.”
The driving force behind this price decrease is a notable decline in the price of U.S. crude oil. Over the past two weeks, crude oil prices have plummeted by more than $7 a barrel, representing a 12% drop. Simultaneously, gasoline futures have fallen by 24 cents per gallon, indicating a broader trend of decreasing fuel costs.
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This downward pressure on crude oil and gasoline futures is translating directly to lower prices at Florida gas stations, providing much-needed relief to consumers.
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