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Florida Gas Pries Drift Lower
November 15, 2021
Florida gas prices drifted lower last week, as the price of crude took another back step.
Florida pump prices averaged $3.27 per gallon on Sunday. The state average declined one cent last week, and has declined a total of four cents per gallon since the beginning of November.
In Escambia County, the average gallon of unleaded gas as $3.28. In North Escambia, the lowest price Sunday night was $3.17 at a station of Highway 29 in Cantonment. In Pensacola, prices were as low as $3.06 on Nine Mile Road.
So far this month, crude has mostly struggled to maintain strength, logging three consecutive weekly declines. Friday’s settlement of $80.79 per barrel was down 4% ($2.97) from three weeks ago, thus lowering the cost of producing gasoline.
Comments
2 Responses to “Florida Gas Pries Drift Lower”
OPEC is still large enough to control worldwide crude prices, even the prices of crude pulled from countries that are not members.
OPEC chooses when prices go up or down. They’re just releasing the pressure for a bit. They know they can’t squeeze high prices nonstop.
Production levels are still below what they were pre-covid. I doubt they will raise production levels until after they see how covid spreads along with the mortality rate after the numbers spike up again following Thanksgiving, Christmas and New Years.