Oil Price Plunge Should Push Gas Prices Lower

Florida gas prices shot up early last week, but were back on the downward trend through the weekend.

The state average rose 15 cents per gallon last week, reaching $3.22 per gallon, before drifting lower again. Sunday's state average was $3.19 per gallon. That's 8 cents more than a week ago, 6 cents more than last month, and 29 cents less than a year ago. 

Visit GasPrices.AAA.com to view state and local average gas prices

"Oil prices plummeted last week, which should contribute to lower prices at the gas pump," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The oil price plunge is reportedly attributed to concerns that tariffs could cause a global economic slowdown, potentially resulting in a reduction in fuel demand. The market is also now worried about an over abundance of global oil supplies. This comes after OPEC+ announced plans to raise oil production in May by about three times more than previously planned."

The U.S. price for crude oil settled at $61.99 per barrel on Friday. That's the lowest daily closing price since April 2021. The price of oil suffered additional losses on Sunday, falling below $60/b in overnight trading. About half of the price consumers pay at the gas pump is influenced by the price of oil.

Regional Prices

• Most expensive metro markets – West Palm Beach-Boca Raton ($3.33), Naples ($3.27), Gainesville ($3.25)
• Least expensive metro markets – Crestview-Fort Walton Beach ($2.91), Panama City ($2.93), Pensacola ($2.95)

Ways to Save on Gasoline

1. Combine errands to limit driving time.
2. Drive conservatively. Avoid aggressive acceleration and speeding, which reduces fuel economy.
3. Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
4. Shop around for the best gas prices in your community by using the AAA mobile app. 
5. Pay with cash. Some retailers charge more per gallon for customers who pay with a credit card.

AAA Resources for Drivers

• Find the lowest gas prices in your area by using the free AAA mobile app.
• Determine fuel costs for your trip by using the AAA's Gas Cost Calculator.
• Enroll in savings programs. AAA Members who enroll in Shell's Fuel Rewards program can save 30 cents per gallon on their first fill-up and 5 cents per gallon each additional trip to the pump. Click here for more information. Members can also save money when buying gasoline, diesel, and propane at Love's Travel Stops in select states. Click here to learn more.
• Ensure your vehicle is properly maintained to optimize its fuel economy. Visit AAA.com/AutoRepair to find a certified repair shop.

Find Florida Gas Prices

• Daily gas price averages can be found at Gasprices.aaa.com 
• State and metro averages can be found here

	Sunday	Saturday	Week Ago	Month Ago	One Year Ago
National	$3.258	$3.262	$3.159	$3.110	$3.591
Florida	$3.187	$3.202	$3.107	$3.130	$3.481
Georgia	$3.047	$3.051	$2.945	$2.925	$3.334
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.