LETTER TO THE EDITOR: Florida gas prices dip down slightly through holiday weekend, but the future is unknown with a volatile fuel market
To the Editor:
Florida gas prices declined through the Independence Day holiday weekend, even as a record number of Americans were forecast to take a road trip. (This year’s actual holiday traveler totals will not be released until the 2023 holiday forecast.)
The average price for gasoline in Florida was $4.54 per gallon on Tuesday, July 5. The state average has declined nearly 10 cents since last week and has dropped a total of 35 cents through the past three weeks.
Experts believe that gas prices are being dragged lower by falling crude oil prices, which suffered steep losses this past week on worries of a global economic slowdown. If these futures price drops hold, drivers could see Florida gas prices drift back below $4.10 per gallon. However, this is still an extremely volatile fuel market. On Tuesday, the price for U.S. crude oil plummeted, falling below $100 a barrel for the first time in eight weeks. Tuesday’s closing price of $99.50 per barrel is nearly $9 (16 percent) less than the week before, and the lowest daily settlement since April 25.
Over the holiday weekend, drivers found the most expensive Independence Day gas prices on record. The average price on July 4th was $4.55 per gallon. That’s $1.54 per gallon more than last year’s holiday, and 49 cents per gallon more than the previous record high of $4.06 per gallon – set back on July 4, 2008.
The most expensive metro markets included West Palm Beach-Boca Raton ($4.72), Naples ($4.64) and Miami ($4.63). The least expensive metro markets were Crestview-Fort Walton Beach ($4.38), Panama City ($4.43) and Melbourne-Titusville ($4.44).
Mark Jenkins, spokesman
AAA – The Auto Club Group
