Florida gas prices fall to three month low
MIAMI - The price at the pump continues to move in the right direction - down.
Florida's gas prices have mostly been on a downward trend through the past four weeks. During that time, the state average fell from $3.69 a gallon to $3.33 a gallon.
In Miami-Dade, the average price was $3.41, down from $3.15 a week ago. In Broward, the average was $3.38, down from $3.51 a week ago.
The most expensive markets for gas in the state are West Palm Beach-Boca Raton, Naples, and Tallahassee. The cheapest markets are in the state's Panhandle.
"The discount at the pump has largely been driven by falling oil prices," said AAA spokesman Mark Jenkins. "However, the downward trend could stall soon. Ongoing geopolitical tensions allowed oil prices to regain some strength last week, though they remain below price levels we saw three weeks ago."
The U.S. price of crude oil settled at $87.69 per barrel Friday. That's $4.90 per barrel (6%) more than the week before, but well below the $93 per barrel on September 27th.
The increase came after The Group of Seven (G7) announced plans to provide financial assistance to Ukraine by tightening sanctions against Russia. The market is also uneasy about the Israel-Hamas conflict.