It’s happened three or four times since December–sharp drops in oil prices after steady increases, but only for the prices to resume their climb, hitting peaks of $123 a barrel on March 8 and $122 on June 8. Prices have been falling since June 8, trading at just under $110 today, which points to lower gas prices ahead. Futures prices are even lower, with oil selling at less than $100 for January delivery, according to MarketWatch.
The (relatively) lower prices are already apparent at gas stations, with the risk of $5-a-gallon gas receding for now, though prices remain high: $4.79 a gallon along guzzlers’ alley in Palm Coast–State Road 100’s Wawa, Shell, 7-11, Circle K and two RaceTracs, with Mobil the usual exception at 6 cents higher–and $4.85-a-gallon gas or higher at stations along Palm Coast Parkway. It still costs around $72 to $75 to fill up the average gas tank.
The best spot for gas today appears to be the I-95 and LPGA Boulevard interchange, with four stations there offering regular gas at less than $4.60 a gallon, and with Sam’s Club offering the lowers price, at $4.54 a gallon. And for comparison’s sake, keep in mind that prices remain higher than $10 a gallon in Norway–one of the world’s leading oil producers–and around $7 to $8 in West European nations.
The national average price for regular unleaded across the United States is $4.98 a gallon. Florida gas prices averaged $4.82 per gallon on Sunday. The state average declined 7 cents last week, after reaching an all-time high of $4.89 per gallon. All indicators are that prices will continue to fall–not quickly, but steadily, at least for now. That silver lining for drivers may not be an indication of economic health overall: part of the drop is in reaction to souring economic prospects. Nations in recession burn less oil. With more oil on the market and less demand, prices fall, though the recent price drop may have as much to do with overproduction by sellers looking to capitalize on the higher prices.
“Florida drivers are finally catching a break after several weeks of rising gas prices,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Gas prices are following oil and gasoline futures prices, which suffered significant losses last week. The losses are being tied to last week’s rate hike from the Federal Reserve bank, sparking fears of a possible recession – which could lower fuel demand. Prices also faced resistance on reports that the Biden administration is considering possible limits on petroleum exports, in attempt to strengthen domestic supply. Petroleum exports have accelerated in recent weeks, as countries compete for fuel in what has become an extremely tight fuel market. The increased competition for fuel has contributed to rising prices.
“If this downward trend holds, gas price drops could accelerate, moving the state average back around $4.50 per gallon,” Jenkins continued. “But this fuel market remains extremely unstable, and things can change very quickly. It’s looking less likely that the state average will surpass $5 a gallon, but the driving season is young.”
The U.S. price of oil dropped 9 percent last week. Friday’s settlement of $109.56 per barrel is $11.11 a barrel less than the week before. Gasoline futures lost 38 cents on the week, for a combined 2-week loss of 46 cents.
- Most expensive metro markets – West Palm Beach-Boca Raton ($4.97), Fort Lauderdale ($4.88), Gainesville ($4.88)
- Least expensive metro markets – Crestview-Fort Walton Beach ($4.63), Pensacola ($4.65), Panama City ($4.69)
Ways to Save on Gasoline
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Pay with cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
- Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
AAA Resources for Drivers
- Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 30 cents per gallon on their first fill-up and 5 cents per gallon each additional trip to the pump. Click here for more information.
- Get a tune-up. Ensure your vehicle is properly maintained to optimize its fuel economy. Visit AAA.com/AutoRepair to find a certified repair shop.
- Find the lowest gas prices in your area by using the free AAA mobile app.
- Determine anticipated fuel costs for your trip by using the AAA‘s Gas Cost Calculator.
Find Florida Gas Prices
- Daily gas price averages can be found at Gasprices.aaa.com
- State and metro averages can be found here
|AAA GAS PRICE AVERAGES
(Price per gallon of regular unleaded gasoline)
|Sunday||Saturday||Week Ago||Month Ago||One Year Ago|
|Click here to view current gasoline price averages|
David Schaefer says
Paid $4.60 Saturday at Sams club…….
Dennis C Rathsam says
SAM,s club & Buckee,s put,s Palm Coast to shame, a 20 min ride saves you $5.oo bucks on a full tank!!!
The Geode says
…that $5 savings will cost you $10 and an hour and a half of time.
Dennis C Rathsam says
BULLONY!!!!! Ive done it many times…There & back with a full tank 1 hour
The Geode says
LOL! If you drove for an hour – you no longer have a “full tank” AND you lost an hour. What’s the point, again?
There’s only one flaw to that plan, to save 20 cents a gallon, $ 4.20 on a 21 gallon full tank of gasoline, you’re going to drive 20 minutes to Daytona or St Augustine/Jacksonville. The wear & tear on tires, brakes and the rest of your vehicle isn’t worth 20 minutes of your time & mileage. Realize that you also have to drive back and burn that much gas out of your full tank, which isn’t so full now. What does your car get for mpg vs how many miles you have to drive to save 20 cents a gallon. There’s a reason the government tax allowance deduction for business mileage is 58.5 cents per mile. They figure 7 1/4 miles more on the road, it’s not worth your time to save a few bucks at the pump. 15 miles round trip & you’re just driving the wheels off your vehicle.
Buccees, is 38.5 miles from me to St Augustine, 25.6 miles to Daytona. Double that for a round trip in my car that gets 38 mpg highway, 31 mpg city and I’ve used 51.2 miles of tires & gas. To the Buccees-Daytona Beach, Gasoline is $ 6.19 alone for the 1.35 gallons used. Buccees-St Augustine cost me $9.32 for the round trip.
I’ll just stick to filling up locally and cursing Joe Biden’s name and vote him out in 2024. He still gets his POTUS pension, but chances are we get someone in power that actually isn’t making our money more & more worthless with every passing day that he falls down, whether it’s a flight of stairs or dismounting his bicycle. Keep your eye on the prize, Democracy was never in jeopardy, that was just another Delaware lie from the Delaware Liar. The D’s moved the goalposts on those most easily duped into believing America is in a better place for Biden being elected for anything. This is why the Biden is already being compared to Carter as the worst POTUS ever. The dollar is doing well internationally, the one flaw in that, none of us are spending our money abroad, we live in Biden’s America. Our life’s savings is pretty much buying less & less each day with that idiot in power. Biden saved Democracy, America and all of us from affordable Trump with his unaffordable Biden plan to screw America.
Gary R says
And it costs you $5.00 to drive to Buc-ee’s and back. LOL
The Geode says
LOL. We went from cheering for $1.90 gas only to be grateful that it dropped below $4.80. Y’all voted for this. Suck it up…
No one Voted for this, the President (either party) does not set gas prices.
The president sets energy policy for the country so he indirectly does impact prices at the pump through his agenda. Oil companies do not want to invest in building or improving new refineries and oil fields if the admin has the stated goal of ending the fossil fuel industry. The federal government also controls taxes on fuel. If you voted for Biden and his climate change agenda then yes, you voted for high gas prices also.
Love how they try to make it seem like gas going down a few Pennies is something to celebrate when 2 years ago it was under $2
The dude says
Love how conservatives champion free markets, yet are clueless as to how free markets actually work.
And what are your credentials?
In April 2020, during the beginning of the COVID pandemic lockdown, crude oil traded at ZERO dollars per barrel. Gasoline was selling for at or slightly under $2 per gallon. A barrel of crude can be refined into typically 42 gallons of gasoline. Crude is now selling for about $110 per barrel. $2.62 of today’s gasoline price is the cost of the crude oil to make the gasoline. Add to that the $2.00 for when crude didn’t cost anything at all and it comes to $4.62 a gallon, which is pretty close to what the price is today.
The price of crude oil was around $80 per barrel prior to Russia (Putin) renewing its war of aggression against Ukraine. So about $0.72 of the cost of gasoline can be directly blamed on Putin. ($110 – $80 = $30. $30/42 = $0.72)
I am rather amused though that when DeSantis and the Florida Republicans passed a gas tax holiday to take place later this year, just before the November elections, they were blasted by the Democrats. Now, Biden is proposing a similar Federal gas tax holiday. Go figure.