Florida Gas Prices Drop 29 Cents in a Week

Florida gas prices have dropped significantly over the past week, reaching an average of $4.08 per gallon on Sunday, according to AAA. The decline of 29 cents marks the lowest statewide average in nearly four weeks, with drivers saving approximately $5 to $7 per fill-up compared to just over a week ago. Despite this drop, prices remain 13 cents higher than a month ago and $1.03 higher than the same time last year.

The decrease in gas prices aligns with a recent drop in crude oil prices, which fell nearly 10% over the past two weeks. Crude prices have dropped from over $100 per barrel in mid-September to $91.11 on Friday. AAA attributed this decline to reduced concerns over global fuel supplies, including the G7’s decision to release 100 million barrels from emergency reserves and improved oil exports from the Middle East.

Among Florida metro areas, West Palm Beach-Boca Raton had the highest average gas price at $4.28 per gallon, followed by Gainesville at $4.23 and Fort Lauderdale at $4.18. Pensacola had the lowest average at $3.92, followed by Panama City at $3.93 and Crestview-Fort Walton Beach at $3.95.