TAMPA, Fla. (WFLA) — Florida gas prices fell for the fifth consecutive week, down about 12 cents from a week ago, according to AAA.
The statewide average fell to $3.04 per gallon on Sunday, the lowest daily average price since September 2021.
The cheaper gas prices are an early gift for the 5.8 million Floridians expected to hit the road for the holidays. AAA notes Sunday’s gas price was about 20 cents per gallon less than what drivers were paying last Christmas ($3.23).
“The plunge at the pump is the result of falling oil prices, which have plummeted primarily due to market concerns about a global economic recession,” said Mark Jenkins, Public Relations Manager, AAA – The Auto Club Group. “Lower oil prices lowers the cost of producing gasoline. These low gas prices should hang around through the end of the year, unless oil prices unexpectedly rebound.”
Oil settled at $74.29 per barrel on Friday—$3.27 per barrel more than the week before. The price of oil was $92.61 per barrel on Nov. 4 before the downturn in prices. Although the slightly increased price in crude might slow the rate of falling gas prices, it’s unlikely to be enough to cause a significant increase, AAA says.
On Sunday, the most expensive metro markets in Florida were West Palm Beach-Boca Raton ($3.26), Gainesville ($3.18) and Miami ($3.17). The least expensive were Crestview-Fort Walton Beach ($2.78), Pensacola ($2.82) and Panama City ($2.85)
As of this writing, the average price of gas in Tampa-St. Petersburg-Clearwater is $2.987 per gallon. In Bradenton-Sarasota-Venice, it’s $3.018 per gallon. In Lakeland-Winter Haven, it is $3.063. The average gas price in Sebring is $3.063.