Florida Gas Prices Level Off At Florida Reopens

May 11, 2020

Florida gas prices are leveling off, after plunging for 10 consecutive weeks. The 76-day streak of declines came to an end last week, as Floridians returned to the road, driving up demand for fuel.

Gas prices dropped a total of 66 cents per gallon since February, when the coronavirus outbreak caused Floridians to stay home to stop the spread. The driving force behind plunging pump prices was low gasoline demand, which sank as much as 75 percent below normal levels during the lockdown. Since the phased reopening began last week, gasoline demand has improved to only 40 percent below year-ago levels.

The average price per gallon across the state was $1.76 a gallon, $1 less than this time last year.

In Escambia County, the average price per gallon Sunday night was $1.65, but one Cantonment station was at $1.57 and stations in Pensacola were at $1.58.

“The plunge at the pump appears to be over now that Floridians are driving more often,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The rising demand has restored optimism in the fuel market, causing higher crude oil and gasoline prices. Wholesale gasoline prices also increased last week, but not yet to a level that demands retailers to raise their rates.”

Comments

2 Responses to “Florida Gas Prices Level Off At Florida Reopens”

  1. Brenda on May 11th, 2020 6:01 pm

    I was thinking sence things opening back up gas will go back up.

  2. retired on May 11th, 2020 9:55 am

    NOW THE RAISE BEGINS.

    WILL TAKE ABOUT ONE TO TWO WEEKS PRICE WILL BE BACK TO 2.50

Written by William Reynolds · Filed Under News