Florida Gas Prices Slip About A Dime

March 27, 2023

Florida gas prices are still responding to a big drop in the oil market that occurred two weeks ago, according to AAA.

The state average declined nine cents per gallon last week, with retail prices averaging $3.37 per gallon on Sunday. In Escambia County, the average was lower at $3.25. In North Escambia, gas prices bottomed at at $3.18 Sunday at a station on Muscogee Road, while in Pensacola a low of $3 a gallon could be found on Nine Mile Road.

After plunging 17% to a new 2023 low – two weeks ago - the U.S. price of oil recouped some of those losses last week, after rising 4%. That could limit how much further gas prices fall. Since it often takes two weeks for retail prices to adjust to movement in the futures market, it’s possible that retail gas prices fall a little further this week, before leveling out or inching higher next week.

NorthEscambia.com photo.

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Written by William Reynolds · Filed Under News