Florida Gas Prices Continue Decline

June 17, 2024

Florida gas prices have declined the past three consecutive weeks, falling to the lowest level since mid-February.

On Sunday, the state average was $3.25 per gallon. That’s five cents less than a week ago, 25 cents less than last month, and 19 cents less than this time last year.

The average in Escambia County was $3.06. In Pensacola, a low of $2.85 was found Sunday at a convenience store on East Nine Mile Road. A low price of $2.88 in North Escambia was available at a station of Highway 29 in Cantonment.

“Summertime road trips have become less expensive thanks to falling crude oil and gasoline futures prices,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “However, oil prices did regain some strength last week, which could cause the plunge at the pump to stall.”

The U.S. price for crude oil rose nearly $3 per barrel (4%) last week. Oil analysts attribute the gains to expectations that voluntary production cuts, agreed to by OPEC and its allies, would contribute to tightness in the oil market during the summer driving season. Additionally, gas prices received some upward pressure on strong implied demand numbers, in a weekly report released by the Energy Information Administration.

NorthEscambia.com file photo, click to enlarge.

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Written by William Reynolds · Filed Under News 

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