17:00 PM

Oil Prices Tumble; Gas Prices Down 10 Cents

Florida gas prices are the lowest in more than a month

Single Gas Price - 4.07.png

Florida gas prices are the lowest in more than a month. Monday's state average price for a gallon of gasoline was $4.07 per gallon and falling. The state average is 10 cents less than a week ago, and 31 cents less than the record high established this time last month.

"Gas prices are following the downward trend set by falling crude oil prices," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Oil futures are falling because of global demand concerns related to COVID-19 outbreaks in China. The potential of higher U.S. interest rates and a strengthening dollar have also put downward pressure on petroleum prices. In addition to all that, members of the IEA have joined the United States' in an unprecedented release of petroleum reserves to offset the shortfall of Russian crude."

Last month, the United States pledged to release 180 million barrels of oil over the next six months. The United States' allies in the International Energy Agency have since committed another 60 million barrels. The 240 million barrel release is reportedly the largest of all time. This amounts to 1.3 million barrels per day. The gap left by Russian oil is reportedly around 3 million barrels per day.

On Monday, the U.S. price for oil settled at $94.29 per barrel. That's the lowest price since February, before Russia invaded Ukraine. Unless oil prices rebound, this downward trend should enable gas prices to continue moving lower this week.

Fuel Price Overview

  • Sunday's Florida Avg. - $4.07 per gallon
  • Lowest in more than a month
  • Avg. Cost for a Fill-Up - $61 for a full 15-gallon tank
  • 2022 High - $4.38 per gallon
  • 2021 High - $3.36 per gallon
  • 2022 U.S. Oil Price High - $123.70 per barrel
  • 2021 U.S. Oil Price High - $84.65 per barrel

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($4.27), Fort Lauderdale ($4.18), Naples ($4.16)
  • Least expensive metro markets – Crestview-Fort Walton Beach ($3.84), Pensacola ($3.89), Panama City ($3.91)

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

(Price per gallon of regular unleaded gasoline)

Monday Sunday Week Ago Month Ago One Year Ago
National $4.114 $4.116 $4.189 $4.331 $2.864
Florida $4.072 $4.079 $4.167 $4.378 $2.839
Georgia $3.761 $3.769 $3.860 $4.293 $2.708
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 13 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.