Florida gas prices dropped 9 cents last week and through Labor Day weekend, AAA reported Tuesday.
However, gas prices were still the fourth-most expensive Labor Day prices ever on record in the Sunshine state.
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The highest gas prices for Labor Day weekend was set in 2012 when gas was about $3.78 per gallon.
According to AAA, the state’s average gas price Monday was $3.52 per gallon, 50 cents more than what drivers paid last year on the same holiday weekend.
It now costs about $53 to fill up the average tank of gas -- $20 less than what drivers paid in mid-June when Florida’s gas price average hit an all-time high of $4.89 per gallon.
“Pump prices are falling after sharp drops in the oil and gasoline futures markets last week,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “The losses were fueled by growing concerns that a global recession and Covid-19 outbreaks in China would stifle global fuel demand. If sustained, this downturn could enable the state average gas price to eventually slip into the $3.30s. However, oil prices were gaining strength Monday night, after OPEC and its allies announced plans to cut production in effort to stabilize falling energy prices.”
The most expensive metro markets are currently West Palm Beach-Boca Raton ($3.72), Tallahassee ($3.64) and Naples ($3.59).
The least expensive metro markets are Crestview-Fort Walton Beach ($3.35), Pensacola ($3.39) and Panama City ($3.43).