Florida Gas Prices Slide Downward

August 12, 2019

Florida gas prices declined nearly 10 cents last week as global demand concerns keep downward pressure on the price of crude.

Florida drivers are paying an average price of $2.44 per gallon – a discount of 8 cents from last week. The state average has declined the past 25 consecutive days for a total of 26 cents per gallon.

In Escambia County, the average price per gallon Sunday night was $2.49, down a nickel from last week. The North Escambia low price Sunday night was $2.29 at a station in Cantonment.

“Gas prices remain closely tied to weekly moves in the price of oil,” said Mark Jenkins, spokesman, AAA-The Auto Club Group. “The oil market remains concerned about how the ongoing US-China trade war is impacting the global economy, and subsequently oil demand. Last week, oil plummeted after reports that global oil demand in the first half of 2019 grew at the slowest rate in 11 years. However, crude recovered after OPEC announced plans for additional crude production cuts, later this year. Unless oil prices unexpectedly surge this week, drivers should expect gas prices to remain at or below current levels this week.”

NorthEscambia.com photo.

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Written by William Reynolds · Filed Under News