TAMPA, Fla. (WFLA) — While gas prices across the state of Florida have continued to fall over the past three months, holiday travelers paid the fourth most expensive Labor Day gas prices on record, according to data from AAA.
The all-time record for Labor Day weekend was set back in 2012 when the price for regular-grade gasoline was $3.78 per gallon.
On Monday, the state average was $3.52 per gallon — 26 cents lower than the all-time state record and 50 cents per gallon more than what drivers paid during last year’s holiday. AAA said the average full tank of gas now costs nearly $53, making it $20 less than what drivers paid in mid-June when the state’s average hit an all-time high of $4.89 per gallon.
“Pump prices are falling after sharp drops in the oil and gasoline futures markets last week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The losses were fueled by growing concerns that a global recession and Covid-19 outbreaks in China would stifle global fuel demand. If sustained, this downturn could enable the state average gas price to eventually slip into the $3.30s.”
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Neighboring areas and their current gas prices:
- Sarasota – $3.46/g, down 9.6 cents per gallon from last week’s $3.56/g.
- Tampa – $3.46/g, down 11.2 cents per gallon from last week’s $3.57/g.
- Cape Coral – $3.47/g, down 9.6 cents per gallon from last week’s $3.57/g.
“The national average has declined for 12 straight weeks, the longest rally since 2018, and it could soon eclipse that mark if we see two more weeks of decline,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, price movements will be contingent on where you are… In the Gulf and Rockies, prices may continue to fall, so a very mixed bag for motorists in the week ahead. In addition, there are several disturbances in the Atlantic to keep an eye on, but we do switch back to cheaper winter gasoline in just over a week which should provide some additional relief.”