Florida gas prices declined through the Independence Day holiday weekend, even as a record number of Americans were forecast to take a road trip.
According to AAA, the average price for gasoline in Florida was $4.54 per gallon on Tuesday. The state average has declined nearly 10 cents since last week and has dropped a total of 35 cents through the past three weeks.
“Gas prices are being dragged lower by falling crude oil prices, which suffered steep losses Tuesday, on worries of a global economic slowdown,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “If these futures price drops hold, drivers could see Florida gas prices drift back below $4.10 per gallon. However, this is still an extremely volatile fuel market, and we’ve seen oil prices rebound so many times in the past several months.”
On Tuesday, the price for U.S. crude oil plummeted, falling below $100 a barrel for the first time in eight weeks.
In the news: Georgia Grand Jury Subpoenas Top Trump Allies To Include Giuliani, Graham, And Eastman
Tuesday’s closing price of $99.50 per barrel is nearly $9 (16%) less than the week before, and the lowest daily settlement since April 25, 2022.
Over the holiday weekend, drivers found the most expensive Independence Day gas prices on record. The average price on July 4th was $4.55 per gallon.
That’s $1.54 per gallon more than last year’s holiday, and 49 cents per gallon more than the previous record-high of $4.06 per gallon – set back on July 4, 2008.
- Most expensive metro markets – West Palm Beach-Boca Raton ($4.72), Naples ($4.64), Miami ($4.63)
- Least expensive metro markets – Crestview-Fort Walton Beach ($4.38), Panama City ($4.43), Melbourne-Titusville ($4.44)