Florida gas prices edge lower after setting new 2024 high
MIAMI - Florida gas prices are moving lower again after jumping early last week.
By last Wednesday, the state average rose 10 cents, setting a new 2024 high of $3.56 per gallon. Since that time, the average has declined by a nickel
On Sunday, the state average was $3.51 per gallon. Miami-Dade was averaging $3.55, up from $3.51 a week ago. In Broward, the average was $3.58, up five cents from last week.
"Gas prices took a step back late last week, but there's still plenty of upward pressure in the fuel market," said AAA spokesman Mark Jenkins.
U.S. crude oil prices surged to new 2024 highs last week but settled the week lower than the week before.
"Although oil prices finished at a loss last week, there could still be another gas price hike on the way," Jenkins continued. "We saw some big oil price gains during the past two weeks, and it can take a week or two before those adjustments move through the retail market."
The West Palm Beach-Boca Raton area had the state's highest average price at $3.71 a gallon, according to AAA. The lowest prices were in the Panhandle, including an average of $3.24 a gallon in the Panama City area.