Watch CBS News

Stuck in reverse? Florida gas prices slide lower

Florida gas prices continue to tumble
Florida gas prices continue to tumble 00:28

MIAMI - Florida drivers continue to see good news at the pump.

Statewide, gas prices dropped an average of 17 cents per gallon last week. It was the largest weekly decline since gas prices began falling six weeks ago.

The state average has now declined a total of 61 cents per gallon, since setting a new record high of $4.89 per gallon in mid-June.

The average price for gas in Florida was $4.08 per gallon on Monday. Some drivers are finding pump prices well below $4 a gallon in some regions. At the rate pump prices are declining, the state average could slip below $4 a gallon this week, for the first time since March 6.

"Gas prices continue their downward march, after another week of losses in the oil market and underwhelming gasoline demand figures," said AAA spokesman Mark Jenkins. "News out of the European Union helped to ease global supply concerns. The EU has reportedly loosened sanctions, allowing Russian state-owned companies to deliver fuel, in an effort to help boost supplies. The lower price of crude lowers the cost of producing gasoline.

The U.S. price for crude oil settled at $94.70 per barrel on Friday. That's $2.89 less than the week before.

Regional Prices
Most expensive metro markets - Naples ($4.38), West Palm Beach-Boca Raton ($4.36), Fort Lauderdale ($4.22)
Least expensive metro markets - Crestview-Fort Walton Beach ($3.83), Sebring ($3.88), Melbourne-Titusville ($3.91)

Florida Gas Price Overview
Monday's Avg. Price - $4.08 per gallon
Cost for a Full Tank - About $61 (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. 
View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.