Gas Prices Sink to a 2-Year Low
Florida gas prices sink and continue to decline. The daily average price for gasoline is now the lowest since March; yet travelers found the lowest Memorial Day gas prices in two years.
Florida gas prices now average slightly below $2.60 per gallon. The state average was 31 cents less than last year’s holiday, but 30 cents more than the year before (2017).
The average price in Florida declined for the 24th consecutive day on Monday, for a total discount of 19 cents. Monday’s average price of $2.60 per gallon is 4 cents less than a week ago, 12 cents less than last month, and 31 cents less than this time last year.
“Gas prices took an early summer slide, due to growing domestic fuel supplies and the ongoing trade war between the U.S. and China,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Both factors forced oil prices to their lowest level in two months. As we begin the summer driving season, Florida drivers are saving a little more than $4.50 compared to last year, when filling an average size tank of gas.”
Last week, the price of crude (WTI) dropped a total of $4.47 per barrel; falling from the weekly high daily settlement of $63.10/b on Monday, to a low of $58.63/b.
The latest supply data from the EIA showed a 1-percent gain in domestic crude supplies and a 1.7 percent jump in gasoline supplies, compared to the week before. Although gasoline stocks remain 2.2 percent below year-ago levels, crude stocks are soaring nearly 9 percent higher than this time last year.
Regional Prices
- Most expensive metro markets
West Palm Beach-Boca Raton ($2.71)
Panama City ($2.70)
Miami ($2.69) - Least expensive metro markets
Tampa-St. Petersburg-Clearwater ($2.52)
Orlando ($2.53)
Melbourne-Titusville ($2.53)
Gas price averages can be found at Gasprices.aaa.com. State and metro averages can be found here.
Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.
About The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9.9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 59 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.
