Florida gas prices fell sharply last week, dropping 32 cents per gallon as lower oil prices helped ease pressure at the pump, according to AAA.
The statewide average for regular unleaded gasoline was $4.07 per gallon on Sunday, down from $4.39 a week earlier. Prices have fallen 46 cents over the past 11 days, AAA said. Despite the recent decline, Florida drivers are still paying 96 cents more per gallon than they were at the same time last year. The U.S. price of crude oil fell from $108.66 per barrel to $87.36 per barrel on Friday, according to AAA.
AAA attributed the drop to a pullback in crude oil prices, which have declined over the past two weeks amid optimism surrounding international peace talks. Mark Jenkins, spokesman for AAA, said hopes that the United States and Iran are nearing an agreement that could reopen the Strait of Hormuz have helped lower oil prices.
“We’ve seen oil prices pull back over the past couple of weeks as hopes grow that the U.S. and Iran are nearing an agreement that could reopen the Strait of Hormuz,” he said. “Since oil makes up about half the cost of gasoline, that can translate into lower prices at the pump.”
Florida’s most expensive metro markets were West Palm Beach-Boca Raton, Gainesville and Tallahassee. The least expensive were Pensacola, The Villages and Panama City.
