Florida gas prices spiked last week but are expected to fall in the coming days as oil prices dropped to their lowest level in nearly three years, according to AAA.

The average price for regular unleaded in Florida climbed 15 cents per gallon early in the week, peaking at $3.22, before slipping to $3.19 on Sunday. The current average is eight cents higher than a week ago and six cents higher than a month ago, but remains 29 cents lower than the same time last year.

Crude oil prices settled at $61.99 per barrel on Friday, the lowest closing price since April 2021. The decline continued into the weekend, with prices falling below $60 per barrel in overnight trading. AAA said roughly half the cost of gasoline is determined by oil prices, and the recent downturn should help push pump prices lower.

“Oil prices plummeted last week, which should contribute to lower prices at the gas pump,” AAA spokesman Mark Jenkins said in a statement. He said the decline is being driven by concerns that new tariffs could slow global economic growth and weaken fuel demand, as well as by expectations of a supply surplus following OPEC+ plans to increase oil production in May.

Regional price differences remain wide. West Palm Beach-Boca Raton reported the highest metro average in Florida at $3.33, followed by Naples at $3.27 and Gainesville at $3.25. The lowest prices were found in the Panhandle, with Crestview-Fort Walton Beach at $2.91, Panama City at $2.93 and Pensacola at $2.95.

Nationally, the average price for regular gasoline was $3.26 on Sunday. Florida’s average was $3.19, and Georgia’s was $3.05.