MIAMI - Florida drivers are seeing a little good news at the pump.
Statewide, gas prices declined through the Independence Day holiday weekend, even as a record number of Americans were forecast to take a road trip.
The average price for gas in Florida was $4.52 per gallon on Wednesday. The state average has declined nearly 12 cents since last week and has dropped a total of 37 cents through the past three weeks.
"Gas prices are being dragged lower by falling crude oil prices, which suffered steep losses Tuesday, on worries of a global economic slowdown," said AAA spokesman Mark Jenkins.
He added if the futures price drops hold, drivers could see Florida gas prices drift back below $4.10 per gallon.
"However, this is still an extremely volatile fuel market, and we've seen oil prices rebound so many times in the past several months," said Jenkins
On Tuesday, the price of U.S. crude oil plummeted, falling below $100 a barrel for the fist time in eight weeks. Tuesday's closing price of $99.50 per barrel is nearly $9 less than the week before, and the lowest daily settlement since April 25, 2022.
However, oil prices rose on Wednesday to $100.15 a barrel, clawing back some of Tuesday's heavy losses.
Over the holiday weekend, drivers found the most expensive Independence Day gas prices on record. The average price on July 4th was $4.55 per gallon. That's $1.54 per gallon more than last year's holiday.
Most expensive metro markets - West Palm Beach-Boca Raton ($4.72), Naples ($4.64), Miami ($4.63)
Least expensive metro markets - Crestview-Fort Walton Beach ($4.38), Panama City ($4.43), Melbourne-Titusville ($4.44)
Florida Gas Price Overview
- Wednesday's Avg. Price - $4.52 per gallon
- Cost for a Full Tank - About $68 (15 gallons)
- 2022 High - $4.89 per gallon (6/13/22)
- 2021 High - $3.36 per gallon (Nov. 2021)
- All-Time Record High - $4.89 per gallon (6/13/22)
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.
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