16
June
2019
|
17:00 PM
America/Chicago

Florida Gas Prices Sink to 3-Month Lows

Florida gas prices dropped below $2.50 for the first time since March

Florida gas prices dipped below $2.50 per gallon for the first time since March 12. The state average declined 9 cents during the past week.

"Falling gas prices accelerated last week, after another week of strong crude oil and gasoline supply figures," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Domestic crude inventories set a new 2019 high, forcing oil prices to their lowest levels since January. Strong fuel supplies should keep gas prices low this summer. The state average should drop another 5 cents this week."

So far this summer, Florida gas prices have averaged $2.57 per gallon. The state average is now 11 cents less than what drivers paid on Memorial Day, and 30 cents less than the highest price of 2019 (established in April).

Florida drivers are now paying 9 cents less than last week, 17 cents less than a month ago, and 26 cents less than this time last year. The year-over-year price deficit is due to lower crude oil prices, which are currently $12.50 per barrel less than a year ago.

Last week, crude oil prices settled as low as $51.14 per barrel on Wednesday. On Friday, the price of WTI settled at $52.51 per barrel – nearly $1.50 per barrel less than a week ago.

The latest figures from the EIA showed a 0.5 percent increase in domestic crude supplies; contributing to a 2 percent build during the past two weeks. US oil production remains near record highs. Meanwhile, gasoline supplies and production both increased for another week.

Regional Prices

  • Most expensive metro markets – Naples ($2.61), West Palm Beach-Boca Raton ($2.59), Panama City ($2.58)
  • Least expensive metro markets – Punta Gorda ($2.38), The Villages ($2.41), Jacksonville ($2.42)

Find Florida Gas Prices

AAA GAS PRICE AVERAGES
(Price per gallon of regular unleaded gasoline)

Today Sunday Week Ago Month Ago One Year Ago

2019 High
(YTD)

2018 High Record High
National $2.685 $2.689 $2.746 $2.859 $2.894 $2.895 $2.97 (5/26/2018) $4.11 (7/17/2008)
Florida $2.489 $2.497 $2.582 $2.661 $2.752 $2.795 $2.92 (5/25/2018) $4.08 (7/17/2008)
Georgia $2.462 $2.466 $2.518 $2.654 $2.748 $2.735 $2.84 (5/27/2018) $4.16 (9/15/2008)
Click here to view current gasoline price averages


Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

About The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9.9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 59 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. Visit AAA on the Internet at AAA.com.