Gas prices in Florida fell 12 cents last week to $3.47 per gallon. But the overall decline has lasted for 10 straight days, continuing through Monday for a total downturn of 16 cents, according to AAA — The Auto Club Group.
While pump prices are again below "year-ago levels," AAA spokesperson Mark Jenkins said, upward pressure moving back into the market likely means the cheaper gas won't last long.
"The U.S. price of oil surged to new 2024 highs last week, which could cause gas prices to move higher," he said in a statement.
Domestic oil prices settled at $86.91 per barrel on Friday, up 4% from the week before and $3 per barrel more than the previous 2024 high recorded two weeks earlier.
"OPIS petroleum analysts attribute the oil price gains to demand concerns amid Israel's ongoing war with Hamas, and Ukraine drone strikes on Russian oil refineries," Jenkins said. "Interestingly enough, similar gains were not seen in the gasoline futures market."
Once again, the priciest metropolitan market for gas on Monday morning was the West Palm Beach-Boca Raton area, where motorists paid $3.69 per gallon on average, followed by Naples ($3.63) and Fort Lauderdale ($3.56).
The cheapest fuel, again, was in Panama City ($3.26), followed by the Crestview-Fort Walton Beach area ($3.33) and Pensacola ($3.37).
The national average gas price was $3.60. Colorado had the best price for a gallon of gas ($3.05), while California had the worst ($5.35).
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