Gas prices in Florida have fallen by almost 50 cents over the past four weeks, with prices as low as $4.15 a gallon at some Orlando gas stations on Sunday, and falling below the $4.50 mark in most Palm Coast gas stations.
Prices along guzzler’s alley on State Road 100 were between $4.46 and $4.49 at Shell, one of the RaceTrac and Wawa stations, with the RaceTrac at Seminole Woods with a reported price about 20 cents higher as of Monday afternoon. The Hess station on U.S. 1, south of Bunnell, had a posted price of $4.44, and the Shell gas station in Flagler Beach, on South Ocean Shore Boulevard, was at $4.37. (All prices are for regular unleaded gas.)
Drivers are paying an average price of $4.42 per gallon in the state, a two-month lows. On average, it now costs $66 to fill a 15-gallon tank. That’s $7 less than when prices were at record-levels in mid June.
A month ago, oil was selling at over $120 a barrel. The price has fallen to just below $105 a barrel for the past week (with a low of $98 a barrel last Wednesday), though the drop is driven by fears of global recession, when demand for oil falls off.
Drivers will get a reprieve from Florida’s gas tax of 25.3 cents per gallon for a month, starting Oct. 1 (just before the general election). President Biden has proposed a three-month reprieve on the 18-cent federal gas tax, and today Transportation Secretary Pete Buttigieg said those efforts are continuing. But the effort has drawn tepid support in Congress.
“Floridians are getting some welcome relief from record high prices at the pump,” said AAA Spokesman Mark Jenkins. “The price declines are attributed to falling oil and gasoline futures prices, which suffered steep drops in recent weeks, due to concerns about a potential global economic recession, and how that could result in lower worldwide demand for fuel. However, there is still concerns about global fuel supplies, which is keeping somewhat of a floor on prices. Unless there’s a sudden rebound in the price of oil, the state average should drop below $4.30 this week.”
- Most expensive metro markets – West Palm Beach-Boca Raton ($4.63), Naples ($4.59), Fort Lauderdale ($4.52)
- Least expensive metro markets – Crestview-Fort Walton Beach ($4.25), Panama City ($4.30), Melbourne-Titusville ($4.30)
|Gas Price Overview||Oil Price Overview|
|Sunday’s Avg. Price – $4.42 per gallon
Cost for a Full Tank – $66 (15 gallons)
2022 High – $4.89 per gallon (June 2022)
2021 High – $3.36 per gallon (Nov. 2021)
Record High – $4.89 per gallon (June 2022)
|Friday’s U.S. Oil Price – $104.79 per barrel
Previous Week’s Closing Price – $108.43 per barrel
2022 High – $123.70 (Mar. 8, 2022)
2021 High – $84.65 per barrel (Oct. 2021)
Record High – $145.29 per barrel (July 2008)
Just in time for mid term votes ? Hey, I like low gas prices the same as the next person, but I also remember 1.5 years of gouging & nothing being done about it. $ 4/gallon is even absurd. They were helping themselves to a recovery of 2020 sub $ 2/gallon prices in the reopening of 2021-present. I do recall gasoline being around $ 2.659/gallon for 87 octane prior to the Covid shutdown. One more or less expected that price to return with a 2021 nationwide reopening. Certain industries & people that could gouge to recover have done so. Biden-Harris & Democrat controlled Congress did nothing but watch the rest of us get ripped off.
Dennis C Rathsam says
Spot on Jim…We all new it was coming, the Jackass party of socialists think they can fool the American people. Too bad we are going to remember these past 2 years of blaming everyone under the sun, for bad policies, & poor choices.