Despite rising demand, Florida gas prices dipped
TALLAHASSEE - Gas prices across Florida decreased about 8 cents a gallon during the past week, despite rising demand amid the spring vacation season and a tighter supply.
The AAA auto club said the average price of a gallon of regular unleaded in Florida was $3.37 on Monday, down from $3.45 a week earlier. The highest averages were in the West Palm Beach, Naples, and Port St. Lucie areas, and the lowest prices were in Northwest Florida.
Concerns about a looming recession are playing a key role in holding global oil prices steady, near $70 a barrel.
"We may be seeing a return to seasonal trends in demand with warmer weather and longer days," AAA spokesman Andrew Gross said in a prepared statement. "But waffling oil prices could mitigate any increase at the pump for now."
AAA said it often takes two weeks for retail prices to adjust to movements in the futures market, which could result in retail gas prices falling further this week before "leveling out or inching higher next week."
The national average price Monday was $3.44 a gallon. Florida's average is 75 cents less than a year ago but up 8 cents from a month ago.