Florida gas prices dropped 6 cents last week and are 7 cents less than this year’s high now that fuel supplies have stabilized in South Florida, AAA reported Monday.
According to AAA, the state average was $3.65 per gallon on Sunday.
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“In addition to stabilizing fuel supplies in Florida, the fuel market has cooled off in recent weeks,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “Oil prices are on a 2-week streak of declines which should enable gas prices to steadily decline through the week.”
According to a AAA news release, crude prices are now $5/b less than the highs set in mid-April after OPEC announced plans to cut oil production by a million barrels per day, beginning on May 1.
“The declines are attributed to global economic concerns, despite favorable gasoline demand and supply numbers,” the news release stated.
The most expensive metro markets are currently West Palm Beach-Boca Raton ($3.84), Naples ($3.74), and Homosassa Springs ($3.71).
The least expensive metro markets are Crestview-Fort Walton Beach ($3.30), Pensacola ($3.31), and Panama City ($3.32).