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Florida Gas Prices Drop A Dime On Average Over The Fourth Weekend
July 6, 2022
Florida gas prices declined a dime over the Independence Day holiday weekend, according to AAA.
The average price for gasoline in Florida was $4.54 per gallon on Tuesday. The state average has declined a total of 35 cents through the past three weeks.
In Escambia County, the average gallon of gas was $4.44. A low of $4.26 could be found in North Escambia Tuesday night at a station of Highway 29 in Cantonment. In Pensacola, at least three stations were at $4.10.
“Gas prices are being dragged lower by falling crude oil prices, which suffered steep losses Tuesday, on worries of a global economic slowdown,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “If these futures price drops hold, drivers could see Florida gas prices drift back below $4.10 per gallon. However, this is still an extremely volatile fuel market, and we’ve seen oil prices rebound so many times in the past several months.”
On Tuesday, the price for U.S. crude oil plummeted, falling below $100 a barrel for the fist time in eight weeks. Tuesday’s closing price of $99.50 per barrel is nearly $9 (16%) less than the week before, and the lowest daily settlement since April 25, 2022.
NorthEscambia.com photo, click to enlarge.
Comments
2 Responses to “Florida Gas Prices Drop A Dime On Average Over The Fourth Weekend”
“Let them eat cake” say the big DC politicians.
An indication that a recession is on the way. The price isn’t going down because supply is going up. It is going down because demand has gone down, globally.