AAA: Florida drivers saving $5-$10 at pump with gas price drop

Gas prices lowest they've been in 16 months

By Francine Frazier - Senior web producer

The Gate gas station near the St. Johns Town Center had gas for less than $2 per gallon this weekend.

JACKSONVILLE, Fla. - As some places around Jacksonville saw gas dip below $2 per gallon over the weekend, gas prices in Florida averaged $2.34 per gallon on Sunday -- the lowest daily price in 16 months, according to AAA.

The price for gas in August 2017 was $2.32.

During the past week, the state average dropped nearly 10 cents, AAA said.

The state average is 58 cents less than this year's highest price of $2.92/g in May. Drivers are now paying 10 cents less than this time last year.

Florida gas prices for the month of November averaged 25 cents less than in October. Despite falling gas prices, this was the most expensive November at the pump in four years. The monthly average price of $2.52/g was 5 cents more than November 2017, and 37 cents more than November 2016.

Click here to view AAA's state and metro gas price averages

  • Most expensive gas price averages: Panama City ($2.73), Miami ($2.56), Crestview-Fort Walton Beach ($2.52)
  • Least expensive gas price averages: Tampa-St. Petersburg-Clearwater ($2.17), Orlando ($2.18), and Punta Gorda ($2.19)

The average American is now finding the lowest gas prices of the year. The national average price for gasoline was $2.47 per gallon on Sunday. That's 9 cents less than last week, and 2 cents less than the previous 2018-low which was set back in January. 

"Compared to when pump prices peaked in May, Florida drivers are saving an average of $9 every time they go to the pump," said Mark Jenkins, AAA spokesman. "Plunging oil prices have made gasoline far less expensive to produce. Oil prices sank to 14-month lows, because there's so much oil in the global market and not enough demand to absorb it. OPEC and Russia hope to change that. They meet on Thursday to discuss a production cut, in hopes of boosting oil prices. A significant cut could have an immediate impact on gas prices, but to what extent will depend on how the oil market responds."

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