Gas prices statewide return to 2024 highs, relief possibly in sight
TALLAHASSEE - Florida gas prices rose their 2024 high last week but relief may be in sight.
The state average reached $3.64 per gallon on Friday which tied the 2024 high set in mid-April. Over the weekend, prices dropped 3 cents per gallon.
Sunday's state average was $3.61 per gallon, three cents more than what drivers paid this time last year. It was also well below the 2023 high of $3.85 a gallon and the 2022 high of $4.89.
On Monday in Miami-Dade, the average was $3.60, up from $3.58 a week ago. In Broward, it was $3.64, which is about the same as a week ago.
"Drivers will likely be happy to hear that they may soon get a break from rising prices at the pump," said AAA spokesman Mark Jenkins. "The price of oil took a step back last week, enabling gasoline futures to drop 20 cents per gallon."
According to AAA, the U.S. price of oil dropped below $80 per barrel on Wednesday, and settled at $78.11 per barrel on Friday. That was a 7 percent drop from the week before.
The $5.74/b weekly decline is equivalent to a 10-15 cent swing in gasoline prices, according to the auto group.
"Unless those prices suddenly rebound this week, drivers should see gas prices steadily move lower this week," Jenkins said.
The most expensive places to fill up are in West Palm Beach, Homosassa Springs, and Naples. The cheapest prices are in the panhandle.