Florida Gas Prices Fall to New 2023 Low

November 5, 2023

Florida gas prices have plummeted to their lowest levels of the year. Sunday’s state average was $3.17 per gallon. That’s five cents less than the previous low, originally set back in March.

The least expensive metro market was Pensacola at $3.00. A North Escambia low of $2.89 was available Sunday night along Highway 29 in Cantonment.

“Florida drivers are now finding some of the lowest pump prices since December 2022,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Drivers are even finding pump prices below $3 a gallon in some cities. In fact, about 20% of Florida gas stations now have gasoline priced below $3 a gallon. Even more are likely to follow, this week.”

“The seasonal decline in driving demand, coupled with gasoline supply builds and falling oil prices are all contributing to the recent pump price drop,” Jenkins continued. “Expect these low prices to hang around through the holidays, unless oil prices suddenly spike or there’s an unexpected disruption to fuel supplies.”

Florida’s state average declined 12 cents per gallon last week. It’s down 68 cents from this year’s high of $3.85, which was recorded in mid-August.

The price of U.S. crude settled at $80.51 per barrel on Friday. That’s $5 per barrel (6%) less than the week before. Gasoline futures also declined 11 cents, for a combined discount of 17 cents per gallon through two weeks.

NorthEscambia.com file photo, click to enlarge.

Comments

One Response to “Florida Gas Prices Fall to New 2023 Low”

  1. derek on November 8th, 2023 10:26 am

    Yesterday I went to Alabama on deliveries. Gas prices there were $2.88 a gallon.

Written by William Reynolds · Filed Under News