Gasoline prices in Florida have fallen 5.3 cents per gallon in the past week, averaging $2.64/g yesterday, according to GasBuddy’s daily survey of 8,237 stations in Florida. This compares with the national average that has fallen 7.0 cents per gallon versus last week to $2.73/g, according to GasBuddy.
Average gasoline prices on November 5 in Florida have ranged widely over the last five years: $2.40/g in 2017, $2.19/g in 2016, $2.11/g in 2015, $2.93/g in 2014 and $3.21/g in 2013.
Including the change locally during the past week, prices yesterday were 24.6 cents per gallon higher than a year ago and are 16.5 cents per gallon lower than a month ago. The national average has dropped 17.7 cents per gallon during the last month and stands 20.9 cents per gallon higher than a year ago.
“Motorists have just enjoyed the largest one week decline in average gas prices in 2018 with the national average falling to its lowest level since April,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil markets have been weak as refinery maintenance season has slowed down crude oil inputs, leading to oil inventories that have risen noticeably. In addition, jitters over the economy and stock market have helped to push values down. But beware- any politician taking credit ahead of the elections is absolutely pulling your leg. We should see prices move lower yet again- but this behavior is par for the course every autumn. In addition, sanctions on Iran were reimposed yesterday, but while some countries that import oil from Iran have waivers, those waivers may be temporary- so the drop at the pump may not continue indefinitely.”