04
December
2021
|
17:00 PM
America/Chicago

Oil Price Plunge Pressures Pump Prices Lower

Sunday's state average has slipped to $3.30 per gallon, after declining 4 cents during the past week

Single Gas Price - 3.30.png

Florida gas prices are slowly adjusting to the recent crude oil price plunge. Sunday's state average has slipped to $3.30 per gallon, after declining 4 cents during the past week. That downward trend is likely to continue this week, unless oil prices suddenly rebound.

Visit GasPrices.AAA.com to view daily gas prices

Crude oil prices plummeted after Thanksgiving, on concerns about how the omicron variant could impact global fuel demand. The price of US crude dropped 13% after Thanksgiving and remained down all last week. Friday's closing price of $66.26 per barrel is 15% below the price on the Wednesday before Thanksgiving. It's also 21% below the 2021 high of $84.15/b - which was recorded nearly four weeks ago.

"An oil price drop of that magnitude, if sustained, could potentially drive the state average back below $3 a gallon," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "But it won't happen overnight. Florida pump prices are falling at a rate of 1-cent a day. Unless that rate accelerates, it could take a few more weeks before pump prices fully adjust."

AAA's year-end travel forecast will be released to media on Tuesday, December 14.

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.48), Naples ($3.37), Fort Lauderdale ($3.35)
  • Least expensive metro markets – Crestview-Fort Walton Beach ($3.17), The Villages ($3.19), Pensacola ($3.23)

Ways to Save on Gasoline

  • Combine errands to limit driving time.
  • Shop around for the best gas prices in your community.
  • Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
  • Remove excess weight in your vehicle.
  • Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
  • Enroll in savings programs. AAA Members who enroll in Shell's Fuel Rewards program can save 5 cents per gallon when they fill up at Shell. Click here for more information.

Find Florida Gas Prices

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

Sunday

Saturday

Week Ago

Month Ago

One Year Ago

Record High

National

$3.359

$3.363

$3.394

$3.421

$2.161

$4.11 (7/17/2008)

Florida

$3.299

$3.305

$3.341

$3.293

$2.156

$4.08 (7/17/2008)

Georgia

$3.183

$3.188

$3.220

$3.255

$1.997

$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 AAA - The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA's mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.