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Florida gas prices continue to decrease daily, hit lowest daily average price since February: AAA

Gas
Posted at 10:09 AM, Sep 20, 2022
and last updated 2022-09-20 10:09:10-04

TAMPA, Fla. — The sticker price for gas continues to decrease daily in Florida. According to AAA, over the past three weeks, gas prices have decreased by 20 cents.

The state's average gas price has dropped three weeks in a row since August 27. Since mid-June, prices have decreased by a total of $1.47 a gallon. As of right now, the average gallon price for gasoline is $3.409, which is the lowest daily average price since February of this year.

"Crude oil and gasoline futures finished the week slightly lower than the week before, on ongoing concerns that a global recession and potential U.S. interest rate hike could stifle global fuel demand," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "This should enable gas prices to slip even lower this week."

Crude oil is traded on the market at various rates based on supply and demand.

At the moment, demand is low, thus its price has been declining, similar to how the cost of gas has.

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Americans drive less during the winter season and as the U.S. gas supply switches over to winter blend fuel, gas prices will decline more.

For drivers in Florida, the average 15-gallon tank of fuel costs $51, $22 less than gas prices in the middle of June, when they hit a record high of $4.89 per gallon.

The average cost for Tampa, St. Petersburg and Clearwater on Monday, Sept. 19 was $3.386 for regular gas.