Florida gas prices continue to slip
MIAMI - Florida drivers continue to see good news at the pump.
Statewide, gas prices declined during the past week and through the Labor Day holiday weekend. Holiday travelers paid the fourth-most expensive Labor Day gas prices on record. The all-time highest price for Labor Day weekend was set back in 2012, at $3.78 per gallon.
On Monday, the average price for regular unleaded in the state was $3.52 per gallon. That's 50 cents per gallon more than what drivers paid during last year's holiday. The average full tank of gas now costs nearly $53. That's $20 less than what drivers paid in mid-June, when Florida's state average was at its all-time high of $4.89 per gallon.
In Miami on Tuesday, the average was $3.57 a gallon and Fort Lauderdale's average was $3.56.
"Pump prices are falling after sharp drops in the oil and gasoline futures markets last week," said Mark Jenkins, AAA spokesman. "The losses were fueled by growing concerns that a global recession and Covid-19 outbreaks in China would stifle global fuel demand. If sustained, this downturn could enable the state average gas price to eventually slip into the $3.30s."
However, oil prices gained strength Monday night after OPEC and Russia agreed to cut output by 100,000 barrels a day in October. This is the group's first production cut in more than a year. Following the announcement, the U.S. price of oil was up by more than 2% in overnight trading.
The increase, if sustained, amounts to an increase of about $2 per barrel for the price of crude.
Regional Prices
Most expensive metro markets - West Palm Beach-Boca Raton ($3.72), Tallahassee ($3.64), Naples ($3.59)
Least expensive metro markets - Crestview-Fort Walton Beach ($3.35), Pensacola ($3.39), Panama City ($3.43)
Florida Gas Price Overview
Tuesday's Avg. Price - $3.51 per gallon
Cost for a Full Tank - About $53 (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.
