Florida gas prices fall after oil prices fall – CBS Miami

MIAMI (CBSMiami) — The average gas price in florida is falling again very slightly after jumping 13 cents at the start of last week. The state average briefly hit $4.24 a gallon last Tuesday. However, Florida gas prices have since fallen by a total of 7 cents over the past five days, and that downward trend is expected to continue this week unless oil prices rebound.

The average price of a gallon of unleaded gasoline in Florida was $4.17 on Tuesday, up a nickel from the previous week and 50 cents higher than a month ago, according to the ‘AAA Auto Club. It’s also $1.32 a gallon more than this time last year. The state average is also 68 cents more than what drivers paid before Russia invaded Ukraine.

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“Gasoline prices are falling now that oil prices are falling again,” said Mark Jenkins, spokesperson, AAA – The Auto Club Group. “The price of oil fell last week after President Biden announced plans to release 1 million barrels per day from the US Strategic Petroleum Reserve, in an effort to ease global supply concerns. The downward pressure was compounded by news that other countries are considering similar action. The drop in the price of oil could allow gasoline prices to fall back below $4 a gallon in the coming weeks. Unless something causes oil prices to rebound this week. »

The US oil price fell 13% last week. Friday’s settlement of $99.27 a barrel was $14.63/bbl lower than the previous week. It is also $24.43 a barrel lower than this year’s high of $123.70/bbl.

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Fuel price overview

  • Florida Avg. – $4.17 per gallon
  • Avg. Cost for a full – $62.55 for a full tank
  • 2022 Top – $4.38 per gallon
  • 2021 High – $3.36 per gallon
  • High US oil prices in 2022 – $123.70 per barrel
  • US oil prices high in 2021 – $84.65 per barrel

Regional awards

  • Very expensive metropolitan markets – West Palm Beach-Boca Raton ($4.34), Fort Lauderdale ($4.24), Miami ($4.23)
  • The cheapest metropolitan markets – Crestview-Fort Walton Beach ($3.98), Pensacola ($3.98), Panama City ($4.07)

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Ways to save on gas

  • Combine races to limit driving time.
  • Compare the prices for the best gas prices in your community.
  • Remember to pay cash. Some retailers charge extra per gallon for customers paying with a credit card.
  • Remove excess weight in your vehicle.
  • Drive safely. Aggressive acceleration and speeding reduce fuel economy.

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