Average gasoline prices in Florida increased last week, but the Trump administration’s tariffs are affecting oil prices and could slow or reverse recent rises at the pump.
Florida drivers paid an average of $3.18 a gallon on Monday, up 8 cents from a week earlier, according to the AAA auto club. The national average Monday was $3.26 a gallon.
In Miami-Dade, drivers paid an average of $3.11 a gallon, up 4 cents from a week. In Broward, the average was $3.17, compared to $3.10 a week ago.
Concerns about tariffs could trigger reduction in fuel demand
Recent increases have been attributed to refinery maintenance and the switch to summer-blend gasoline.
“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,” AAA spokesman Mark Jenkins said in a statement. “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.”
Patrick De Haan, head of petroleum analysis at GasBuddy, said in an online post that “oil prices have plummeted” with tariffs being “some of the most significant” in more than a century.
“In addition to falling oil prices, the stock market has dropped sharply, and the risk of a recession has increased — raising the likelihood of reduced global energy and oil demand, which is sending prices lower,” De Haan posted on Bluesky. “As a result, motorists can expect gas prices to begin falling nearly coast-to-coast, with oil now at its lowest level since the early days of the pandemic of 2021.”
Average prices Monday ranged from $2.91 a gallon in the Crestview-Fort Walton Beach area to $3.31 in the West Palm Beach-Boca Raton area, according to AAA.
