TAMPA (CBSMiami) — Florida gas prices have been on a downward trend the past two weeks. In fact, some drivers in the state have found prices below $4 a gallon. However, that downward trend may level out, after the price of oil rebounded last week.
On Sunday, Florida’s average price for gasoline was $4.12 per gallon. That’s 6 cents per gallon less than a week ago, and 26 cents less than the record high of $4.38 – set a little more than two weeks ago. Despite the recent dip, pump prices remain 93 cents per gallon more than the 2022 low and 1.93 per gallon more than the lowest price in 2021.
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“Global fuel supply concerns continue driving extreme volatility in the fuel market, leading to big swings in the price of oil,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “After seeing strong drops two weeks ago, oil rebounded last week to a level that should cause falling gas prices to level off.”
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On Friday, the U.S. price of oil settled at $113.90 per barrel. That’s $9.20 per barrel (9%) more than the week before. Despite the increase, oil remains almost $10 per barrel less than the 2022 high of $123.70/b reached nearly three weeks ago. The $10/b discount translates to a 25 cent drop at the pump – which already happened in the past two weeks.
Fuel Price Overview
- Sunday’s Florida Avg. – $4.12 per gallon
- Avg. Cost for a Fill-Up – $62 for a 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
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- Most expensive metro markets – West Palm Beach-Boca Raton ($4.29), Fort Lauderdale ($4.23), Miami ($4.23)
- Least expensive metro markets – Orlando ($4.03), Punta Gorda ($4.04), Melbourne-Titusville ($4.04), Pensacola ($4.04)