Gas price update

Average retail gasoline prices in Florida have fallen 5.6 cents per gallon in the past week, averaging $2.19/g yesterday, according to GasBuddy’s daily survey of 8,237 gas outlets in Florida. This compares with the national average that has fallen 2.6 cents per gallon in the last week to $2.25/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Florida during the past week, prices yesterday were 6.7 cents per gallon lower than the same day one year ago and are 11.8 cents per gallon lower than a month ago. The national average has decreased 11.5 cents per gallon during the last month and stands 5.7 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on June 26 in Florida have ranged widely over the last five years: $2.26/g in 2016, $2.69/g in 2015, $3.61/g in 2014, $3.48/g in 2013 and $3.24/g in 2012.

“As motorists pack their cars in preparation for the July 4 holiday, gasoline prices continue their widespread drop, falling in all five states over the last week, as retail prices play catch up to the falling price of crude oil,” said Patrick DeHaan, senior petroleum analyst at GasBuddy. “Michigan, Indiana, Ohio, Kentucky and Illinois saw prices rise slightly due only to the fact that gas prices had fallen so significantly that stations in those areas were selling under their cost, prompting an adjustment. For the rest of the country, the downward momentum has continued and may do so again this week, so long as there’s no sudden reversal in the price of crude oil. It’s amazing we’re staring at some of the cheapest prices of the year as the holiday comes into view,” DeHaan said.