On Sunday, the state average was $3.28 per gallon. That’s the lowest daily average price since the state’s gas tax holiday was in effect on October 31, AAA reports.
“Florida gas prices have plunged 30 cents in the past three weeks, due to low oil prices and strong gasoline supplies,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “The downward momentum should continue this week. Unless fundamentals change, the state average could drift below $3.20 per gallon by next weekend.”
The U.S. price of crude oil increased 5% last week. Friday’s daily settlement of $79.98 per barrel is $3.70/b more than the week before. Despite the uptick, the price of crude remains 15% below the price three weeks ago, when gas prices began their 3-week descent.
COVID-19 lockdowns in China have kept strong downward pressure on oil prices, amid concerns that the lockdowns would reduce global fuel demand.
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.
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