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After setting new 2024 high, Florida gas prices inch lower

Florida gas prices inch lower after hitting 2024 high
Florida gas prices inch lower after hitting 2024 high 00:27

TALLAHASSEE - The Florida gas price rollercoaster hit a spike late last week but dropped a little lower over the weekend.

On Friday, Florida gas prices hit a new 2024 high of $3.46 per gallon, but by Sunday they dropped a few cents to $3.43 a gallon.

AAA said the state average rose 15 cents per gallon last week before inching lower.
"Strong gasoline demand and the switch to summer fuel contributed to last week's jump at the pump," said AAA spokesman Mark Jenkins.

He added that severe weather and power outages at major refinery plants across the US were also reportedly to blame.

"However, gasoline and oil futures moved lower late last week, reportedly due to uncertainty about whether the Federal Reserve would cut interest rates later this year. This could temporarily cause the gas price hike to stall," said Jenkins.

Crude oil futures declined nearly $2 per barrel last week and gasoline futures dropped 9 cents.     

On Monday morning, the average price in Miami-Dade was $3.47 a gallon, up from $3.36 a week ago. In Broward, the average price was $3.48 a gallon, up from $3.39 a week ago. 

The most expensive places to fill up are in West Palm Beach, Fort Lauderdale, and Naples. The cheapest prices are in the panhandle.

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