FORT LAUDERDALE, Fla. – Slowly but surely, our gas prices are getting a bit more tolerable.
Florida’s average price for a gallon of regular unleaded gasoline sits at $3.30 on Monday morning, a 4-cent drop from last week, according to data from the American Automobile Association.
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AAA says that trend is likely to continue after crude oil prices plummeted amid concerns about the omicron variant of COVID-19.
Mark Jenkins, who analyzes fuel prices for AAA, said the price of U.S. crude dropped 13% after Thanksgiving and that Friday’s closing price of $66.26 per barrel is 15% below the price on the Wednesday before Thanksgiving.
“An oil price drop of that magnitude, if sustained, could potentially drive the state [gasoline] average back below $3 a gallon,” Jenkins said. “But it won’t happen overnight. Florida pump prices are falling at a rate of 1-cent a day. Unless that rate accelerates, it could take a few more weeks before pump prices fully adjust.”
Most Florida drivers are paying less than the national average of $3.36 per gallon.
In South Florida, average gas prices stand as follows on Monday morning:
- Miami-Dade: $3.31
- Broward: $3.35
- Monroe: $3.60
- Palm Beach: $3.48
For more information on Florida gas prices, click here.