Florida Gas Prices Dip to $4.28 After Hitting Four-Month High
Florida drivers see a slight price drop to $4.28 per gallon following a weekend peak of $4.33, driven by global oil tensions.
Key points
- Florida’s average gas price dropped to $4.28 on Monday after hitting a four-month high of $4.33 on Friday.
- Oil prices rose 27 percent in three weeks due to Middle East tensions, pushing crude to $105.83 per barrel.
- Filling a 15-gallon tank costs about $65, which is $6 more than a month ago and nearly $20 more than a year ago.
The average price for a gallon of gasoline in Florida fell to $4.28 on Monday. This slight decrease follows a four-month high of $4.33 recorded on Friday.
Drivers paid 15 cents more per gallon than one week ago and 37 cents more than a month ago. The current price is $1.16 higher than the $3.12 average seen a year earlier.
Middle East conflict drives oil costs
Oil prices rose as much as 27 percent over the past three weeks due to regional conflict. Crude oil reached $105.83 per barrel last week, according to data cited by Yahoo.
Uncertainty over global oil supplies has placed renewed pressure on pump prices. Crude oil accounts for roughly half of the final cost of gasoline for consumers.
Regional variation across Florida markets
West Palm Beach and Boca Raton report the highest averages at $4.43 per gallon. Homosassa Springs follows at $4.36, while Naples charges an average of $4.35.
Panama City offers the lowest average price in the state at $4.03 per gallon. Pensacola and Crestview follow closely behind with averages of $4.04 and $4.05 respectively.
Fill-up costs rise significantly
Filling a standard 15-gallon tank now costs approximately $65 for the average Florida driver. This represents a $6 increase compared to one month ago.
The annual increase in fuel costs approaches $20 for a full tank. Florida prices remain below the national average of $4.47 but exceed the 2022 record of $4.89.
