Florida gas prices are edging lower after climbing to their highest level in nearly four years last week.
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Florida gas prices are edging lower after climbing to their highest level in nearly four years last week.
The state average jumped 20 cents per gallon, peaking at $4.50 on Thursday, May 7. That marked the highest daily average since July 2022. The increase followed sharp gains in the futures market over the previous two weeks, including a 21% rise in oil prices and a 59-cent jump in wholesale gasoline.
Prices began to ease through the weekend. The state average fell 9 cents, bringing Sunday’s price to $4.43 per gallon. That is 10 cents more than a week ago, 34 cents more than a month ago, and $1.48 more than this time last year. Visit GasPrices.AAA.com to view state and local gas price averages.
Market conditions shifted late last week on renewed optimism around U.S.-Iran negotiations. Reports that talks could lead to a gradual reopening of the Straight of Hormuz helped push prices down 6%. Those declines can directly affect pump prices, since about half of gasoline’s price is determined by oil prices.
“The fuel market remains headline-driven and extremely volatile, making it difficult to predict what drivers will pay at the pump this summer,” said Mark Jenkins, spokesman for AAA - The Auto Club Group.
Visit GasPrices.AAA.com to view state and local average gas prices.
Regional Prices
How to Conserve Gasoline
AAA Resources for Drivers
AAA GAS PRICE AVERAGES
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Sunday |
Saturday |
Week Ago |
Month Ago |
One Year Ago |
|
National |
$4.522 | $4.530 | $4.446 | $4.153 | $3.319 |
|
Florida |
$4.427 | $4.457 | $4.342 | $4.092 | $2.946 |
|
Georgia |
$4.058 | $4.047 | $3.851 | $3.734 | $2.890 |