Florida’s average gas price fell to $3.05 per gallon on Sunday, offering some relief to drivers ahead of the Memorial Day holiday weekend, according to AAA.

The current average is 46 cents lower than the state’s average price during Memorial Day weekend in 2024, when it stood at $3.51 per gallon. The decline comes as an estimated 2.6 million Floridians are expected to travel 50 miles or more over the long weekend, including 2.3 million by car. Despite the surge in demand, AAA officials say prices are unlikely to reach last year’s holiday levels.

Gas prices in Florida climbed sharply last week, rising by 20 cents from $2.92 to $3.12 per gallon. However, prices retreated by seven cents through the weekend, bringing the statewide average back to $3.05.

AAA attributes the overall decline in gas prices in part to weaker oil markets. U.S. crude prices are currently averaging around $62 per barrel, down from $78 a year ago. Analysts have cited concerns about rising global supply and the potential for a global economic slowdown as key factors influencing the drop. Additional market uncertainty has been fueled by recent announcements from OPEC+ regarding plans to increase oil production later this year.

Regional differences in prices remain across Florida. The most expensive metro areas include West Palm Beach-Boca Raton at $3.22 per gallon, Naples at $3.14, and Ocala at $3.13. The lowest prices were recorded in Panama City at $2.79, Crestview-Fort Walton Beach at $2.80, and Pensacola at $2.86.