AAA: Florida gas prices falling slower as crude oil prices bounce back
Gasoline prices in Florida may be falling, but not as much or as fast as they were expected to, according to AAA-The Auto Club Group's weekly briefing.
Here's why: The price of crude oil, from which gas is made, bounced back last week. That was after AAA predicted price drops of as much as 20-30 cents after the Thanksgiving holiday travel weekend as crude oil prices fell.
But that drop was occasioned by fears over the omicron variant of the novel coronavirus, which causes COVID-19. But omicron hasn't become the health concern that the delta surge was.
Last week: Florida's gas prices continue to decline as crude markets fluctuate
More: First cases of omicron strain of COVID virus reported in Florida
"After plunging two weeks ago, the crude market regained strength last week," said Mark Jenkins, AAA spokesman. "As a result, that drop we were anticipating, could be more like 10-20 cents.
"Oil prices remain the main drivers of prices at the pump," he added. "So if oil prices increase again this week, drivers will again need to adjust their expectations."
The bottom line, according to AAA:
Pump prices are slowly declining.
The state average slipped 3 cents last week and a total of 10 cents in the past 23 days.
Florida drivers are now paying an average price of $3.27 per gallon, the lowest daily average price since mid-November.
Regional Prices
Most expensive metro markets – West Palm Beach-Boca Raton ($3.44), Naples ($3.35), Fort Lauderdale ($3.33).
Least expensive metro markets – Crestview-Fort Walton Beach ($3.14), The Villages ($3.16), Punta Gorda ($3.17).
Daily gas price averages can be found at Gasprices.aaa.com.
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This article originally appeared on Tallahassee Democrat: Gasoline prices may remain higher in Florida for a while, AAA says
