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Saturday, April 13, 2024

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Pump prices surged 26 cents during the past two weeks; should decline 5 cents this week.

Florida gas prices are drifting lower after surging 15 cents last week. Florida drivers are now paying an average of $2.67 per gallon at the pump.

“Florida drivers should get some relief at the pump this week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “After US-Iran tensions led to higher fuel prices a couple weeks ago, growing doubts of a US-China trade agreement is leading them lower. The state average is poised for a five cent decline this week, and even lower if crude suffers additional drops.”

The price of crude (WTI) declined nearly $2 per barrel last week, after rising more than $7 per barrel the week before. Oil is now $15 per barrel less than this time last year, which is helping to keep pump prices at a discount.

The state average of $2.67 per gallon is 14 cents more than a week ago, and 6 cents more than last month ago. However, Florida drivers are still paying 5 cents per gallon less than this time last year.
The state average remains 13 cents per gallon less than the highest daily average price of 2019. So far, summertime gas prices have averaged $2.56 per gallon since Memorial Day. The state average on Independence Day was $2.68 per gallon – 2.5 cents less than last year’s holiday.

Regional Prices
• Most expensive metro markets – West Palm Beach-Boca Raton ($2.72), Sebring ($2.71), Homosassa Springs ($2.71)
• Least expensive metro markets – Crestview-Fort Walton Beach ($2.62), Punta Gorda ($2.64), Miami ($2.65)

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