Florida gas prices lowest in a month, a trend AAA says is likely to continue

Ordinary fuel rates throughout the Sunshine Condition are the cheapest they’ve been in a thirty day period, according to the most up-to-date weekly fuel prices briefing by the AAA-The Automobile Club Team.

Down 10 cents in the final 7 days, drivers compensated an normal of $4.05 a gallon on Tuesday. After document highs around the last few months, just about $4.40 a gallon, the downward craze is predicted to carry on simply because of a slump in crude oil prices, AAA spokesman Mark Jenkins explained.

Gasoline is refined from crude oil, creating its sector price a important variable of expense handed on to motorists.

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“Oil futures are slipping due to the fact of worldwide need concerns related to COVID-19 outbreaks in China,” Jenkins wrote in his briefing. “The probable of bigger U.S. fascination rates and a strengthening dollar have also place downward strain on petroleum price ranges.

“In addition to all that, members of the (Worldwide Electricity Agency) have joined the United States in an unprecedented release of petroleum reserves to offset the shortfall of Russian crude.”

The U.S. was between quite a few international locations that stopped importing Russian oil after the superpower invaded Ukraine in February.

Previous thirty day period, the U.S. fully commited to releasing 180 million barrels of domestic oil around the next six months. Furthermore, allies in the International Power Agency have stated they will release yet another 60 million barrels to offset the reduction in Russian oil.

Costs for domestic oil settled at $94.29 for each barrel on Monday, the cheapest in two months.

Gasoline costs at a glance

• Sunday’s Florida ordinary: $4.07 for every gallon.

• Regular price tag for fill-up: $61 for a complete, 15-gallon tank.

• 2022 substantial: $4.38 for every gallon.

• 2021 substantial: $3.36 for each gallon.

• 2022 U.S. oil value high: $123.70 per barrel.

• 2021 U.S. oil cost significant: $84.65 for each barrel.

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Regional costs

• Most costly metro markets – West Palm Seaside-Boca Raton ($4.27), Fort Lauderdale ($4.18), Naples ($4.16).

• Least high-priced metro markets – Crestview-Fort Walton Beach ($3.84), Pensacola ($3.89), Panama Town ($3.91).

• Fuel costs can be identified at gasprices.aaa.com.

Speak to Karl Etters at [email protected] or @KarlEtters on Twitter.

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This write-up at first appeared on Tallahassee Democrat: Florida fuel prices: Down 10 cents this 7 days, craze probable to keep on