Florida gas prices continue to decrease, but downward trend may level out, AAA says

A car is shown at a gas pump, Friday, Jan. 21, 2022, at a gas station in North Miami, Fla. (AP Photo/Wilfredo Lee) (Wilfredo Lee, Copyright 2022 The Associated Press. All rights reserved)

JACKSONVILLE, Fla. – Florida gas prices have been decreasing the last two weeks, but that downward trend may level out, according to AAA.

The Auto Club Group said Monday that the average gas price in Florida was $4.12 per gallon on Sunday -- 6 cents less than a week prior and 26 cents less than the record high of $4.38 recorded just over two weeks ago.

“Despite the recent dip, pump prices remain 93 cents per gallon more than the 2022 low and 1.93 per gallon more than the lowest price in 2021,” AAA said in a news release.

As of Monday, according to AAA, Florida’s average gas price remained at $4.12 per gallon, while it was at $4.06 in Duval County.

But AAA said the price of oil increased last week, so falling gas prices might not continue.

“Global fuel supply concerns continue driving extreme volatility in the fuel market, leading to big swings in the price of oil,” said Mark Jenkins, AAA spokesperson. “After seeing strong drops two weeks ago, oil rebounded last week to a level that should cause falling gas prices to level off.”

According to AAA, the U.S. price of oil settled at $113.90 per barrel on Friday -- 9% more than the week before.