Florida drivers catch a break, gas prices move lower
MIAMI – After months of record highs, there is finally some relief at the pump.
For the first time in nine weeks, the average gallon of gas has fallen below $5.
According to AAA the national average for a gallon of regular gas is now $4.98, down from the record high of $5.02 set last week.
Florida gas prices averaged $4.82 per gallon on Sunday. The state average declined 7 cents last week, after reaching an all-time high of $4.89 per gallon.
"I just pumped in $59 and 43 cents, so it will go up a lot and then it will come down 5 or 6 cents," said Mike Pintado, who is among the many South Floridians not impressed by the recent dip in gas prices.
"What I'm afraid is going to happen is, it comes down a little bit and every body's happy it's come down but we're still paying highly inflated prices," added Pintado.
So, what's driving down the prices and will it last?
"We may have an inventory report that came out saying we have a bigger bill than we anticipated and that will drive the traders to drop and sell," said Ned Bowman, with the Petroleum Marketers Association.
Bowman says gas is a publicly traded global commodity and prices fluctuate with supply and demand and even though news of the of currently supply is better than expected it isn't enough for prices to drop substantially.
"Crude oil, natural gas, gasoline and diesel, they think there's a shortage of it and their going to run the prices up… similar to companies making profits on the stock market so I think the days of cheap gasoline is over," added Bowman.
News that's has drivers on edge.
"Gas prices are terrible right now," said DJ Rhodes.
"My spending is a lot higher than before and the things that means that I can now purchase less more items when it comes to going to the grocery stores," added Michael Hernandez.
And Pintado agreed, "I live all the way down in Kendall, I drive to Pembroke Pines every day for work so even in a small truck like this one it's a lot, we shouldn't be paying what we're paying for gas right now."
President Biden recently announced he is considering a gas tax holiday and the state of Florida will have a full month without the gas tax in October.
Regional Prices
Most expensive metro markets - West Palm Beach-Boca Raton ($4.97), Fort Lauderdale ($4.88), Gainesville ($4.88)
Least expensive metro markets - Crestview-Fort Walton Beach ($4.63), Pensacola ($4.65), Panama City ($4.69)
Ways to Save on Gasoline
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Pay with cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
- Drive conservatively. Aggressive acceleration and speeding reduce fuel economy.
