Florida Gas Prices See 8-Cent Weekly Jump Despite Falling Crude Oil Costs

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Florida Gas Prices See 8-Cent Weekly Jump Despite Falling Crude Oil Costs

Gas Pumps (TFP File Photo)
Gas Pumps (TFP File Photo)

Florida motorists are seeing slightly higher prices at the pump this week, with the state’s average gas price rising by 8 cents per gallon compared to last Sunday, according to AAA – The Auto Club Group.

The state average for regular unleaded stood at $3.04 per gallon on Sunday, October 6, a figure that is 10 cents less than a month ago and 7 cents less than a year ago.

The increase comes despite downward trends in the global energy market. Last week, the U.S. price of crude oil fell by 7%, dropping from $65.72 to $60.88 per barrel, and gasoline futures also declined by 18 cents.

The fluctuating prices are part of a familiar cycle in the Florida fuel market. The state average initially saw a sharp 18-cent increase early in the past week but reversed course in the latter half, declining by 9 cents before the final weekly tally.

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“Since the fuel market has been stable, retailers are constantly adjusting prices to attract customers,” explained Mark Jenkins, spokesman for AAA – The Auto Club Group. “But once those prices fall below a profitable margin, stations raise them again, and the cycle repeats.”

This retail-driven volatility has kept Florida’s average gas price consistently bouncing between $2.92/g and $3.23/g since early September 2024. The typical pattern involves a gradual decline over roughly 10 days, followed by a sharp rebound to previous levels.

Regionally, gas prices show a significant spread across the state:

  • Most expensive metro markets: West Palm Beach-Boca Raton ($3.22), Naples ($3.12), Gainesville ($3.10)
  • Least expensive metro markets: Crestview-Fort Walton Beach ($2.80), Pensacola ($2.80), Panama City ($2.85)

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