Photo taken on Aug. 11, 2021 shows a pump at a gas station in Arlington, Virginia, the United States. U.S. inflation remained elevated in July, but there were signs that inflation might have peaked amid pandemic-related supply constraints and the emergence of the Delta variant. The consumer price index CPI increased 0.5 percent in July after rising 0.9 percent in June, the U.S. Labor Department said on Wednesday. (Photo by Liu Jie/Xinhua via Getty Images)
MIAMI (CBSMiami) — Florida gas prices are gradually moving lower after rising 10 cents last week. Florida’s state average rose from $4.01 to $4.11 per gallon. Drivers are now paying an average price of $4.10 per gallon.
“The rollercoaster ride at the pump continues,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “After rising two weeks ago, gas prices should remain tied to the price of oil, which was on its way back down last week. Based on wholesale and gasoline futures trends, gas prices could decline 5-10 cents, unless oil prices rebound again.”
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According to the EIA, the price of crude oil accounts for 55% of the price of gasoline.
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Last week, the U.S. price of oil fell 4 percent. Friday’s closing price of $102.07 per barrel was $4.47/b less than the week before, and $21.63 per barrel less than this year’s high – set in early March.
Fuel Price Overview
- Sunday’s Florida Avg. – $4.10 per gallon
- Avg. Cost for a Fill-Up – $61.50
- 2022 High – $4.38 per gallon (March 11)
- 2021 High – $3.36 per gallon
- 2022 U.S. Oil Price High – $123.70 (March 8)
- 2021 U.S. Oil Price High – $84.65 per barrel
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Regional Prices
- Most expensive metro markets – West Palm Beach-Boca Raton ($4.27), Fort Lauderdale ($4.15), Naples ($4.15)
- Least expensive metro markets – Pensacola ($3.91), Crestview-Fort Walton Beach ($3.93), Panama City ($4.00)
