AAA: Gas prices decline through the Labor Day weekend the state average dropped 9 cents last week
Florida gas prices declined during the past week and through the Labor Day holiday weekend. Holiday travelers paid the forth-most expensive Labor Day gas prices on record. The all-time highest price for Labor Day weekend was set back in 2012, at $3.78 per gallon.
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On Monday, the state average price for a gallon of regular unleaded gasoline was $3.52 per gallon. That’s 50 cents per gallon more than what drivers paid during last year’s holiday. The average full tank of gas now costs nearly $53. That’s $20 less than what drivers paid in mid-June, when Florida’s state average was at its all-time high of $4.89 per gallon.
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“Pump prices are falling after sharp drops in the oil and gasoline futures markets last week,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “The losses were fueled by growing concerns that a global recession and Covid-19 outbreaks in China would stifle global fuel demand. If sustained, this downturn could enable the state average gas price to eventually slip into the $3.30s. However, oil prices were gaining strength Monday night, after OPEC and its allies announced plans to cut production in effort to stabilize falling energy prices.”
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On Monday, OPEC and Russia agreed to cut output by 100,000 barrels a day in October. This is the group’s first production cut in more than a year. Following the announcement, the U.S. price of oil was up by more than 2% in overnight trading. The increase, if sustained, amounts to an increase about $2 per barrel for the price of crude. That would only erase a third of the losses the oil market suffered last week. On Friday, the U.S. price of crude settled at $86.87 per barrel, after falling by more than $6 a barrel from the week before.
AAA provided this helpful list of tips:
Regional Prices
• Most expensive metro markets – West Palm Beach-Boca Raton ($3.72), Tallahassee ($3.64), Naples ($3.59)
• Least expensive metro markets – Crestview-Fort Walton Beach ($3.35), Pensacola ($3.39), Panama City ($3.43)
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.
AAA Resources for Drivers
• Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 30 cents per gallon on their first fill-up and 5 cents per gallon each additional trip to the pump. Click here for more information.
• Get a tune-up. Ensure your vehicle is properly maintained to optimize its fuel economy. Visit AAA.com/AutoRepair to find a certified repair shop.
• Find the lowest gas prices in your area by using the free AAA mobile app.
• Determine anticipated fuel costs for your trip by using the AAA’s Gas Cost Calculator.
Find Florida Gas Prices
• Daily gas price averages can be found here
• State and metro averages can be found here
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