Florida gas prices falling after crude price plunge

Tampa, Florida — Florida gas prices downward trend is likely to continue this week. Sunday’s state average has slipped to $3.30 per gallon, after declining 4 cents during the past week.
After concerns about how the omicron variant could impact global fuel demand, crude oil prices plummeted after Thanksgiving.
The price of US crude dropped 13% after Thanksgiving and remained down all last week.
Friday’s closing price of $66.26 per barrel is 15% below the price on the Wednesday before Thanksgiving.
It’s also 21% below the 2021 high of $84.15/b – which was recorded nearly four weeks ago.
“An oil price drop of that magnitude, if sustained, could potentially drive the state average back below $3 a gallon,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “But it won’t happen overnight. Florida pump prices are falling at a rate of 1-cent a day. Unless that rate accelerates, it could take a few more weeks before pump prices fully adjust.”
AAA’s year-end travel forecast will be released on Tuesday, December 14.
Regional Prices:
• Most expensive metro markets – West Palm Beach-Boca Raton ($3.48), Naples ($3.37), Fort Lauderdale ($3.35)
• Least expensive metro markets – Crestview-Fort Walton Beach ($3.17), The Villages ($3.19), Pensacola ($3.23)

Lowell Bowen

From the time he was 8 years old Lowell knew he wanted to be on TV. Well, as people say one thing leads to another, that's how Lowell started his career in the news industry. Lowell has been part of The South Florida Daily since the very beginning.

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