Florida Gas Prices Decline Over The Last Week

February 3, 2020

Florida gas prices continue to decline, with an average drop of 7 cents at the pump last week.

The current state average is $2.37 per gallon, down from a high in January of $2.56 per gallon. The state average has since dropped a total of 18 cents per gallon in the past 17 days.

The average price in Escambia County was $2.29, while two Cantonment stations had the lowest price in North Escambia Sunday night at $2.19 per gallon.

“The state average should trend even lower this week, as strong gasoline supplies continue to outpace low winter fuel demand,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “In addition to those seasonal factors, it now appears that the coronavirus is heaping even more downward pressure on fuel prices. Marketwatchers are concerned that the mysterious virus could lead to even less global fuel demand. The growing concerns led to lower crude prices last week, which lowers the cost of producing gasoline. If current wholesale gasoline prices hold, the state average could approach $2.30 per gallon by the end of the week.”

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Written by William Reynolds · Filed Under News