Florida drivers experienced a volatile week at the pump as gas prices surged early, then slightly retreated, ultimately settling slightly higher than the previous week. According to data released on Sunday, the state average for a gallon of regular gasoline was $3.05.
This figure represents a net increase of 5 cents compared to the average price recorded a week prior. The week began with a significant jump of 13 cents per gallon, only to see an 8-cent decline over the weekend, offering some relief to motorists.
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While Floridians are paying slightly more at the pump compared to last week, there is still some positive news. Current gas prices are, on average, 10 cents lower than they were a month ago and a substantial 51 cents less than the average price recorded at this time last year.
The price of crude oil, a major factor in determining gasoline costs, saw a 3% decrease last week. On Friday, crude oil closed at $63.02 per barrel, down $1.66 from the previous week’s closing price. Interestingly, despite the drop in crude oil prices, gasoline futures experienced an increase of 12 cents over the past two weeks, contributing to the fluctuations seen at local gas stations.
Looking at regional variations across the state, significant price differences persist.
Most Expensive Metro Markets:
- West Palm Beach-Boca Raton: $3.19 per gallon
- Ocala: $3.13 per gallon
- Naples: $3.12 per gallon
Least Expensive Metro Markets:
- Crestview-Fort Walton Beach: $2.80 per gallon
- Panama City: $2.84 per gallon
- Pensacola: $2.89 per gallon
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