Florida gas prices declined 29 cents over the past week, with the statewide average reaching $4.08 per gallon Sunday, according to AAA.
The average price for regular unleaded gasoline has fallen 34 cents over the past nine days and is now at its lowest level in nearly four weeks. AAA said the decrease amounts to an estimated savings of about $5 to $7 per fill-up compared with prices from just over a week ago.
Sunday’s statewide average remained 13 cents higher than a month ago and $1.03 higher than the same time last year.
The decline in gas prices coincided with a decrease in crude oil prices. Crude prices fell nearly 10% over the past two weeks, from more than $100 per barrel in mid-September to $91.11 on Friday.
AAA attributed the decline in oil prices to reduced concerns over global fuel supplies, including the G7’s decision to release 100 million barrels from emergency reserves and improved oil exports from the Middle East.
Among Florida metro areas, West Palm Beach-Boca Raton had the highest average gas price at $4.28 per gallon, followed by Gainesville at $4.23 and Fort Lauderdale at $4.18.
Pensacola had the lowest average at $3.92, followed by Panama City at $3.93 and Crestview-Fort Walton Beach at $3.95.
