Average Gas Price Dips Below $2 A Gallon In Florida

November 16, 2020

Florida gas prices inched lower last week by just a penny, the smallest weekly decline in a month.

Florida drivers are now paying an average price of $1.99 per gallon. The state average is 1 cent less than a week ago, 15 cents less than last month, and nearly 40 cents less than this time last year.

The average price per gallon in Escambia County was $2.09, up a couple of pennies over last week.  At least three North Escambia area stations in Cantonment were below $2 Sunday night, including $1.95 at one on Highway 29. Multiple stations were below the $2 mark in Pensacola — as low as $1.83 at two warehouse clubs.

“The gas price plunge stalled out last week, after news of a possible COVID-19 vaccine sent crude oil prices higher,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The announcement restored some optimism within the fuel market, that fuel demand could eventually rebound. With the vaccine’s widespread release likely months away, it’s likely that gas prices will remain low through the rest of the year.”

Crude oil prices rose $3 a barrel last week. It was an increase of 8% from the week before. Oil prices shot up early in the week upon news of a possible COVID-19 vaccine. However, that optimism cooled off toward the end of the week as reports of rising cases of coronavirus continued to roll in.

Comments

One Response to “Average Gas Price Dips Below $2 A Gallon In Florida”

  1. Century on November 16th, 2020 6:00 am

    century florida needs to come down on thetes to.

Written by William Reynolds · Filed Under News