- Gas prices in Florida dipped to $3.39 per gallon on average, according to AAA
- The price at the pump was the lowest daily average price since November 2nd
Florida gas prices dropped an average of 7 cents per gallon last week as millions of Florida motorists hit the road for Thanksgiving, according to a new report from the American Automobile Association (AAA).
The auto group stated in its weekly report on Monday that the average price for gasoline in the Sunshine State slipped to $3.39 per gallon through the holiday weekend. Despite the dip, holiday travelers paid an average price of $3.41 per gallon on Thanksgiving day, which was the most expensive for the holiday since 2013.
The state average is now on a 17-day streak of declines, dropping a total of 19 cents during that time.
AAA spokesman Mark Jenkins noted that prices reflect a nosedive in the price of oil.
“Gas prices are being pressured lower by steep drops in the price of oil, and strong gains in domestic gasoline supplies,” said Jenkins, spokesman, AAA – The Auto Club Group. “Unless there’s a shift in fundamentals, the state average could sink even lower this week, with the potential of dipping below $3.30 per gallon in the next week or two.”
Oil prices have plummeted nearly 20% in the past three weeks. The price of U.S. oil sank to $76.28 per barrel on Friday. That’s $16/b less than the closing price three weeks ago. A price drop of that magnitude can trigger a 40 cent swing at the pump. So far, Florida gas prices have declined 20 cents during that same period.
Drivers looking to travel around the state will find the most expensive gas prices in West Palm Beach-Boca Raton ($3.59), Naples ($3.53), and Gainesville ($3.52). The lowest prices were reported in Pensacola ($3.11), Panama City ($3.12), and Crestview-Fort Walton Beach ($3.12)
A full breakdown of gas prices across the state can be seen here.