Florida gas prices fall to below $3, lowest cost seen since January, AAA reports

TAMPA, Fla. — Florida gas prices have dropped to their lowest point since January, as the average price per gallon fell by 5 cents last week, reaching $3.11 on Sunday, according to AAA - The Auto Club Group. This marks the lowest daily average price since January 23, when the state’s average stood at $2.988.

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AAA spokesperson Mark Jenkins highlighted the potential for prices to fall even further. “It has been 237 days since Florida gas prices were below $3 a gallon, but that streak could come to an end soon,” Jenkins said. He pointed to declining oil prices, driven by global economic concerns and expectations that fuel supplies might outpace demand, as factors that could push the average below $3 by October.

Currently, over a quarter of gas stations in Florida are offering prices below $3 per gallon, with the lowest 10% averaging $2.82. Meanwhile, the highest 10% of stations are charging around $3.47.

The drop in gas prices coincides with a dip in crude oil prices, which dropped to $65.75 per barrel last week—the lowest since December 2021—before bouncing back to $68.65 due to concerns over Hurricane Francine.

Despite the slight rebound, oil prices remain significantly lower than earlier in the year, when crude hit $86.91 per barrel in April, pushing gas prices in Florida to a high of $3.64 per gallon.

As oil prices account for about half of the cost of gasoline, further decreases in crude could translate into lower prices at the pump.

For the latest state and local gas prices, visit GasPrices.AAA.com.

AAA Gas Price Averages (Price per gallon of regular unleaded gasoline):

• National
• Sunday: $3.209
• Week Ago: $3.273
• Month Ago: $3.442
• One Year Ago: $3.866
• Florida
• Sunday: $3.108
• Week Ago: $3.164
• Month Ago: $3.375
• One Year Ago: $3.635
• Georgia
• Sunday: $2.971
• Week Ago: $3.066
• Month Ago: $3.245
• One Year Ago: $3.448

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