Gas price update

Gasoline prices in Florida have fallen 3.4 cents per gallon in the past week, averaging $2.76/g yesterday, according to GasBuddy’s daily survey of 8,237 stations in Florida. This compares with the national average that has fallen 3.1 cents per gallon versus last week to $2.82/g, according to GasBuddy.

Average gasoline prices on August 20 in Florida have ranged widely over the last five years: $2.24/g in 2017, $2.08/g in 2016, $2.40/g in 2015, $3.33/g in 2014 and $3.48/g in 2013.

Including the change locally during the past week, prices yesterday were 52.0 cents per gallon higher than a year ago and are 0.5 cents per gallon higher than a month ago. The national average has dropped 1.7 cents per gallon during the last month and stands 50.5 cents per gallon higher than a year ago.

“The national average price of gasoline has fallen to its lowest level since May 7, some 105 days ago when many of us were dreaming of summer road trips and falling gas prices. After all, gas as cheap as last summer has been elusive this summer, but it’s not too late to enjoy this summer’s lowest prices,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices have held in the mid-$60s per barrel, the price of which has been determined by a delicate balancing act of global optimism and pessimism surrounding a long litany of possible economic issues. As we race towards summer’s finish line, we may see more pessimism weigh on oil markets, offering some relief to weary drivers who’ve seen the most expensive summer at the pump since 2014. Labor Day will likely claim the cheapest prices for a summer holiday this year, and I’m sure millions of motorists will take advantage.”