Downward trend: Below $4 per gallon gas returns to Treasure Coast, price dropping 30 cents

Lamaur Stancil, Treasure Coast Newspapers
·3 min read
11

Gas prices are returning to below the $4 mark on the north side of the Treasure Coast this week.

GasBuddy says the average cost in Indian River County was $3.99, dropping as low as $3.75 within Vero Beach city limits.

The trend for St. Lucie County is about $3.80 a gallon, the web site states.

Motorists are fueling up higher in Martin County, with about $4.20 per gallon.

One month ago, Treasure Coast drivers were paying an average of $4.35 per gallon.

Observers at AAA said steady decline is because of lower domestic demand for gas and a lower global price for oil. The cost of a barrel of oil is about $90, down from around $110 two weeks ago.

“Global economic headwinds are pushing oil prices lower and less expensive oil leads to lower pump prices,” said Andrew Gross, AAA spokesperson. “And here at home, people are fueling up less, despite this being the height of the traditional summer driving season."

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Patrick De Haan, head of petroleum analysis at GasBuddy, predicted the decline, although he said factors around the world could drive prices up again.

“If we do tip into a recession, that could push prices down," he told USA Today. "If there is data that we aren’t going to tip into a recession, that could cause prices to go up. But really, I'm worried about the unforeseeable events like refinery shutdowns due to a hurricane or other factors.”

A Murphy USA convenience store at 5175 20th Street west of Vero Beach had $3.95 regular and $5.37 diesel per gallon fuel prices on July 21, 2022.
A Murphy USA convenience store at 5175 20th Street west of Vero Beach had $3.95 regular and $5.37 diesel per gallon fuel prices on July 21, 2022.

Florida joins most southern states with gas prices hovering around $4 per gallon, compared with the West Coast, where California motorists are fueling up at nearly $6 a gallon and other states there are paying about $5.30 a gallon.

In the Sunshine State, the panhandle has the cheapest gas, with several stations in Pensacola and Panama City offering gas under $3.60 per gallon.

Cheapest gas by gallon in Treasure Coast cities, as of Thursday

  • Sebastian: Walmart, 2001 U.S. 1, $4.06

  • Vero Beach: BP, 1901 U.S. 1, $3.75

  • Fort Pierce: BP, 5101 Turnpike Feeder Road, $3.79

  • Port St. Lucie: Sam's Club, 1750 SW Gatlin Blvd, $3.99

  • Jensen Beach: BJ's, 4150 N.W. Federal Hwy, $4.04

  • Stuart: Circle K, 5750 S.E. Federal Highway, $4.25

  • Hobe Sound:  Cumberland Farms, 8685 S.E. Federal Highway, $4.27

Some tips for saving fuel

  • Avoid high speeds: As your speed increases, your aerodynamic drag increases in an exponential fashion. Driving 62 mph (100 km/h) versus 75 mph (120 km/h) will reduces fuel consumption by about 15%.

  • Do not accelerate or brake hard: By anticipating the traffic and applying slow, steady acceleration and braking, fuel economy may increase by as much as 20%.

  • Keep tires properly inflated: Keep tire air pressure at the level recommended by your vehicle manufacturer. A single tire under-inflated by 2 PSI, increases fuel consumption by 1%.

  • Use A/C sparingly: A car's air conditioner puts an extra load on the engine, forcing more fuel to be used (by about 20%). The defrost position on most vehicles also uses the air conditioner.

  • Service vehicle regularly: Proper maintenance avoids poor fuel economy related to dirty air filters, old spark plugs or low fluid levels

Staff writers Mauricio La Plante and Corey Arwood contributed to this report. 

Lamaur Stancil is the Treasure Coast regional economy reporter covering business and industries, including retail, tourism and hospitality. Contact him at 321-987-7179 or lamaur.stancil@tcpalm.com and follow him at Lamaur Stancil on Facebook and @TCPalmLStancil on Twitter.

This article originally appeared on Treasure Coast Newspapers: Downward trend: $4 per gallon gas returns to Treasure Coast