Update: Florida gas prices fall 30 cents per gallon in 3 weeks

Gas price tracker — Courtesy: Shutterstock — Image by: Westlight

Florida gas prices fell 11 cents per gallon in the previous week and 30 cents in the last three weeks, AAA reported on Monday morning.

According to AAA, the Sunshine State’s average was about $3.28 per gallon on Sunday, which has proven to be the lowest daily average price since Florida’s gas tax holiday went into effect on Oct. 31.

“Florida gas prices have plunged 30 cents in the past three weeks, due to low oil prices and strong gasoline supplies,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The downward momentum should continue this week. Unless fundamentals change, the state average could drift below $3.20 per gallon by next weekend.”

According to AAA, coronavirus lockdowns in China have kept a strong and consistent downward pressure on oil prices, amid concerns that the COVID-19 lockdowns would decrease global fuel demand as a whole. 

The most expensive metro marks in Florida are currently West Palm Beach-Boca Raton ($3.50), Gainesville ($3.45), and Naples ($3.41).

The least expensive metro markets are Pensacola ($3.01), Crestview-Fort Walton Beach ($3.02), and Panama City ($3.02).

Another contributing factor is that this year’s turbulent Atlantic hurricane season, which ended on Nov. 30, had a small impact on oil refineries throughout the Gulf of Mexico.

“Hurricane season 2022 is over. Thankfully, it was quite limited in terms of its impact on oil and refining operations, we could ill afford any downtime, and thankfully we escaped without much at all,” tweeted Patrick De Haan, head of petroleum analysis with the fuel-savings app GasBuddy.

De Haan, who posted a tweet last week hoping the national average would fall under $3 a gallon around the Christmas holiday, noted on Sunday that 11 states have average fuel prices under $3.

While the highest prices linger along the Pacific Coast, the area has experienced the biggest drop in gas prices over the last few months.

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