Florida's yo-yo'ing gas prices on the decline after double-digit increase last week

Karl Etters
Tallahassee Democrat

Florida’s gasoline prices, although still above $4 a gallon, are on the decline following a month of rising costs and a 13-cent jump just in the last week. 

The average price of gas on Sunday was $4.17 a gallon, a drop of 7 cents in the last five days, according to the weekly briefing by AAA-The Auto Club Group.

The latest decline, however, is part of a long-term yo-yo effect that has caused motorists to change their driving habits. 

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Florida’s gas prices, although still above $4 a gallon, are on the decline following a month of rising costs and a 13-cent jump just in the last week.

The average cost Monday is five cents higher than the week before, 55 cents more than last month and $1.32 higher than last year. In the last month prices have dipped and climbed by double digits several times. 

Much of that has been due to a volatile international oil market that has hinged on the ongoing invasion of Ukraine by Russia and pressure on the Biden Administration to release more domestic oil to supplement spotty supplies. 

Domestic oil prices dropped by 13% last week, resting at $99.27 a barrel on Friday. That’s more than $14 more than the week before. 

“Gas prices are drifting lower now that oil prices are declining again," AAA spokesman Mark Jenkins said in his weekly briefing. "The price of oil dropped last week after President Biden announced plans to release 1 million barrels per day from the U.S. Strategic Petroleum Reserve, in effort to ease global supply concerns. 

"The oil price drop could enable gas prices to fall back below $4 a gallon in the next couple of weeks. That is unless something causes oil prices to rebound this week."

Fuel prices at a glance 

  • Sunday's Florida average - $4.17 per gallon. 
  • Average cost for a fill-up - $62.55 for a full tank. 
  • 2022 high - $4.38 per gallon. 
  • 2021 high - $3.36 per gallon. 
  • 2022 U.S. oil price high - $123.70 per barrel. 
  • 2021 U.S. oil price high - $84.65 per barrel. 
  • Daily gas prices can be found at gasprices.aaa.com 

Regional prices

  • Local markets Leon County ($4.05), Franklin County ($4.34), Gadsden County ($4.07), Jefferson County ($4.33), Liberty County ($4.22), Wakulla County ($4.14). 
  • Most expensive metro markets – West Palm Beach-Boca Raton ($4.34), Fort Lauderdale ($4.24), Miami ($4.23). 
  • Least expensive metro markets – Crestview-Fort Walton Beach ($3.98), Pensacola ($3.98), Panama City ($4.07). 

Contact Karl Etters at ketters@tallahassee.com or @KarlEtters on Twitter.

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