Florida gas prices falling amid seasonal, market trends
The price of gas in Florida has been declining steadily, hitting $2.95 per gallon on Sunday — the 10th consecutive day of discounts.
Sunday’s average price of $2.95 per gallon was 15 cents cheaper than the week prior, 18 cents less than last month and 18 cents less than this time last year, according to AAA — The Auto Club Group.
On Monday, the price at the pump jumped to $2.98 per gallon. But motorists should still expect lower costs in refueling their vehicles amid several seasonal and market trends, AAA spokesperson Mark Jenkins said in a statement.
“As we transition into Fall, lower fuel demand and the switch to Winter-blend gasoline can help ease prices,” he said. “This is a welcome relief after a Summer of fluctuating prices.”
Fall has historically brought lower prices as Summer travel ends, schools reopen and road trips happen less frequently. Winter-blend gasoline, which is cheaper to produce than its Summer-blend counterpart, is also now entering the market.
But there are variables that can contribute to upward pressure on the market. Refinery maintenance often occurs around this time of the year, though price increases the activity contributes to are often offset by reduced demand.
Hurricane season, now entering its typically busiest period, is a wild card. “Any disruption to Gulf Coast refineries or offshore rigs could reverse the current trend,” AAA said.
The cheapest metropolitan markets in Florida for gas on Monday morning were Punta Gorda, Panama City and the Crestview-Fort Walton Beach area, where drivers and motorcyclists were paying an average $2.86 per gallon.
The most expensive market, as usual, was the West Palm Beach-Boca Raton area ($3.14), followed by Gainesville ($3.02) and Naples ($3.06).
Nationally, California continues to be the priciest state for petroleum fuel-based energy, with a gallon of regular gas there costing $4.65, followed by Washington ($4.66) and Hawaii ($4.48).
The most affordable state for gas-dependent motorists is Mississippi ($2.70), followed by Oklahoma ($2.76) and Arkansas ($2.77).
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