Gas price update

Florida gas prices have fallen 3.3 cents per gallon in the past week, averaging $2.55/g today, according to GasBuddy’s daily survey of 8,237 stations. Gas prices in Florida are 22.3 cents per gallon lower than a month ago, yet stand 30.4 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Florida is priced at $2.33/g today while the most expensive is $3.29/g, a difference of 96.0 cents per gallon. The cheapest price in the entire country today stands at $1.89/g while the most expensive is $5.86/g, a difference of $3.97/g.

The national average price of gasoline has fallen 1.6 cents per gallon in the last week, averaging $2.81/g today. The national average is down 8.9 cents per gallon from a month ago, yet stands 13.8 cents per gallon lower than a year ago.

Historical gasoline prices in Florida and the national average going back a decade:
June 3, 2018: $2.85/g (U.S. Average: $2.94/g)
June 3, 2017: $2.36/g (U.S. Average: $2.37/g)
June 3, 2016: $2.33/g (U.S. Average: $2.35/g)
June 3, 2015: $2.69/g (U.S. Average: $2.76/g)
June 3, 2014: $3.58/g (U.S. Average: $3.67/g)
June 3, 2013: $3.44/g (U.S. Average: $3.62/g)
June 3, 2012: $3.42/g (U.S. Average: $3.58/g)
June 3, 2011: $3.70/g (U.S. Average: $3.79/g)
June 3, 2010: $2.69/g (U.S. Average: $2.70/g)
June 3, 2009: $2.52/g (U.S. Average: $2.55/g)

“The national average has fallen for its fourth straight week, probably not something motorists would associate with the start of the summer driving season,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “More impressively is the surprise that may soon hit some motorists: the nation’s cheapest gas prices may soon fall back under $2 per gallon as oil prices have plummeted nearly $14 in the last 8 weeks, prompted by worries about President Trump’s tariffs on China and now also Mexico, undermining the U.S. and global economy, and perhaps leading to a slowdown in oil demand at the same time as U.S. oil inventories have rebounded sharply. While there may be volatility and a return to higher prices should Trump make a deal to avoid tariffs on both the countries, for now, it’s going to be a big win at the gas pump with prices in most areas likely to fall notably in the week ahead.”