Florida Gas Prices Decline As Summer Season Travel Starts

June 3, 2024

Florida gas prices have declined the past 10 consecutive days. During that period, the state average dropped 11 cents per gallon.

Sunday’s state average was $3.45 per gallon. That’s five cents less than a week ago, but six cents more than this time last year.

The average in Escambia County was $3.21. A low $2.93 could be found Sunday night on East Nine Mile Road. In North Escambia, the low price was $2.99 at stations of Highway 29 near Roberts Road.

“The summer travel season is beginning with gasoline prices that are 20 cents less than the highest price this year,” said Mark Jenkins, public relations manager for AAA – The Auto Club Group. “While gasoline prices are usually volatile through the summer months, recent futures prices suggest the state average could move lower this week.”

The U.S. price for crude oil dropped 1% last week, amounting to a combined 4% drop through the past two weeks. Meanwhile, gasoline futures are down 16 cents during that time. On Sunday, OPEC and its allies agreed to extend oil production cuts into 2025 in effort to prop up oil prices. Oil analysts expected the decision and the price of oil was unchanged as of early Sunday night.

The U.S. price for crude oil dropped 1% last week, amounting to a combined 4% drop through the past two weeks. Meanwhile, gasoline futures are down 16 cents during that time. On Sunday, OPEC and its allies agreed to extend oil production cuts into 2025 in effort to prop up oil prices. Oil analysts expected the decision and the price of oil was unchanged as of early Sunday night.

NorthEscambia.com photo.

Comments

Comments are closed.

Written by William Reynolds · Filed Under News