Florida gas prices declined last week, though increases in oil and wholesale gasoline prices could put upward pressure on pump prices, according to AAA.
The average price for a gallon of regular unleaded gasoline in Florida was $3.95 on Sunday, down 7 cents from a week earlier. The state average was 7 cents higher than a month earlier and 88 cents lower than at the same point last year.
AAA said the decline followed a period of week-to-week volatility after prices peaked earlier in the month.
“Florida gas prices have seesawed week to week, after peaking earlier this month,” said Mark Jenkins, spokesman for AAA. “They may move higher again soon, following increases in both oil and wholesale gasoline prices.”
U.S. oil prices increased $10.55 per barrel last week, a 13% gain, while gasoline futures rose 46 cents per gallon, AAA said. The increases were attributed to global supply concerns related to tensions with Iran and uncertainty over the Strait of Hormuz.
Florida’s average remained below the national average, which was $4.10 per gallon Sunday. Georgia’s average was $3.62.
The highest metro-area averages in Florida were reported in West Palm Beach-Boca Raton at $4.13, Gainesville at $4.03 and Fort Lauderdale at $4.01. The lowest averages were in Panama City at $3.67, Pensacola at $3.69 and Crestview-Fort Walton Beach at $3.73.
