17:00 PM

Rising Oil Prices Wipe Out Downward Pressure at the Gas Pump

Florida Gas Prices Declined 6 Cents Per Gallon Last Week

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Florida gas prices declined 6 cents per gallon, during the past week. On Monday, the state average was $3.26 per gallon. That's 2 cents higher than the lowest price, so far this year.

Fuel prices have ping ponged in the first two weeks of 2023. The year began at $3.24 per gallon, which is currently this year's low. The state average then jumped to $3.31 on the 5th, before eventually setting back to $3.26/g during the weekend.

Oil prices remain the big contributor to fluctuating prices at the pump. The U.S. price of oil dropped 15% in the first week of 2023 - which put downward pressure on pump prices. Unfortunately for drivers, those losses were cut in half last week, when oil rebounded by 8%.

"Pump prices may not go much lower this week, thanks to a rebound in oil prices," said Mark Jenkins, Public Relations Manager for AAA - The Auto Club Group. "Crude prices strengthened last week on various news reports, causing investors to grow optimistic about global fuel demand. First, reports that China is easing COVID-19 restrictions. There's also hope that the Federal Reserve could slow interest rate hikes, following reports that inflation eased in December."

The U.S. price for oil settled at $79.86 per barrel on Friday. That's $6.09 per barrel (8%) more than the week before, and the highest daily settlement so far this year.

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.48), Gainesville ($3.34), Miami ($3.34)
  • Least expensive metro markets – Crestview-Fort Walton Beach ($3.09), Panama City ($3.10), Pensacola ($3.10)

Ways to Save on Gasoline

  • Combine errands to limit driving time.
  • Shop around for the best gas prices in your community.
  • Pay with cash. Some retailers charge extra per gallon for customers who pay with a credit card.
  • Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
  • Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.

AAA Resources for Drivers

  • 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.
  • Get a tune-up. Ensure your vehicle is properly maintained to optimize its fuel economy. Visit AAA.com/AutoRepair to find a certified repair shop.
  • Find the lowest gas prices in your area by using the free AAA mobile app.
  • Determine anticipated fuel costs for your trip by using the AAA's Gas Cost Calculator.

Find Florida Gas Prices

(Price per gallon of regular unleaded gasoline)

Monday Sunday Week Ago Month Ago One Year Ago
National $3.305 $3.300 $3.280 $3.178 $3.307
Florida $3.262 $3.264 $3.292 $3.069 $3.222
Georgia $3.074 $3.066 $2.810 $2.808 $3.111
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.