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Florida Gas Prices Back Off Record Highs
March 21, 2022
The price of oil suffered steep losses last week, enabling the price of gasoline to back off from record highs.
The state average price for gasoline is on a nine-day streak of declines, dropping a total of 20 cents per gallon. On Sunday, drivers paid an average price of $4.18 per gallon.
In Escambia County, the average was $4.11 per gallon.
A low price of $4.04 could be found Sunday night in North Escambia at a station of Highway 29 in Cantonment. In Pensacola, the lowest price Sunday night was $3.91 at a station on Pensacola Boulevard in Ensley.
“The oil market remains extremely volatile, after seeing big swings in both directions during the past few weeks,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Last weekend, oil prices dropped on demand concerns regarding a COVID outbreak in China, which resulted in lockdowns. By the end of the week, oil prices charged higher again as global crude supply concerns – regarding the fallout from the Russia-Ukraine conflict – moved back to the forefront. Fortunately, oil prices are well below the high we saw more than a week ago. This should enable gas prices to slip lower this week, unless oil suddenly spikes again.”
Comments
3 Responses to “Florida Gas Prices Back Off Record Highs”
@Josh, Florida’s increase in minimum wage has only recently happened. Prices for everyday things were still much lower years ago and progressively got more expensive without minimum wage increasing. Oil companies that are making billions upon billions in profit. plus what they get from our tax subsidies are convincing you that “mInIMUm wAgE iS mAkInG tHiNgS mOrE eXpEnSiVe.” Don’t be so naive.
Florida’s minimum wage is now at $10/hour, which exceeds the federal minimum wage of $7.25/hour.
It’s a good thing they didn’t raise the price of the federal minimum wage. Otherwise, everything would be more expensive.