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Gas prices in Florida tied the 2024 high over the weekend, then retreated a few cents — and AAA thinks the trend will continue.
While Florida gas prices rose to 2024 highs prior to the weekend, there may be good news on the horizon for what you pay at the pump.
AAA reported the state average reached $3.64 per gallon on Friday. That tied the 2024 high, which was set in mid-April. The state average has since declined 3 cents per gallon, and by Monday, in Osceola County, the average for a gallon of regular unleaded settled at $3.59 a gallon — the exact same local drivers paid this time last week, and this time last year. The high point of last year came in August at $3.85.
Now for the good news ...
"Drivers will likely be happy to hear that they may soon get a break from rising prices at the pump," said Mark Jenkins, Public Relations Manager for AAA - The Auto Club Group. "The price of oil took a step back last week, enabling gasoline futures to drop 20 cents per gallon."
After spending the better part of the past two months above $80 per barrel, the U.S. price of oil dropped to $78.11 Friday. That was a 7% drop from the week before. About half the price of gasoline is influenced by oil prices. Oil analysts attribute the price drop to a surprise increase in U.S. commercial oil inventories, and signs that geopolitical tensions in the Middle East could be weakening.
"Unless those prices suddenly rebound this week, drivers should see gas prices steadily move lower this week," Jenkins said.
Are you traveling the state ... or the country? Visit GasPrices.AAA.com to view state and local average gas prices.
