Rising Oil Prices Wipe Out Downward Pressure at the Gas Pump

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Florida gas prices have decreased by 6 cents per gallon, over the past week. On Monday, the state average was $3.26 a gallon. That’s 2 cents higher than the lowest price, so far this year.

Fuel prices rose in the first two weeks of 2023. The year started at $3.24 a gallon, which is currently a year low. The state average then jumped to $3.31 on the 5th, before settling back to $3.26/gi over the weekend.

Oil prices are still the main contributor to variable prices at the pump. The US oil price fell 15% in the first week of 2023 – putting downward pressure on pump prices. Unfortunately for drivers, those losses were halved last week, when oil fell by 8%.

“Pump prices may not go much lower this week, thanks to a rebound in oil prices,” said Mark Jenkins, Public Relations Manager for AAA – The Auto Club Group. ” Crude prices strengthened last week on various news reports, which makes investors optimistic about the global demand for fuel. First, China is reported to be easing the restrictions of COVID-19. It is also expected that the Federal Reserve slows interest rate hikes, after reports of inflation easing in December.”

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The US oil price was settled at $79.86 a barrel on Friday. That’s $6.09 a barrel (8%) more than the previous week, and the highest daily settlement so far this year.

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.48), Gainesville ($3.34), Miami ($3.34)
  • At least expensive metro markets – Crestview-Fort Walton Beach ($3.09), Panama City ($3.10), Pensacola ($3.10)

Ways to Save Gasoline

  • Combine errors to limit driving time.
  • Shop around for the best gas prices in your community.
  • Pay with cash. Some retailers charge extra per gallon for customers who pay by credit card.
  • Remove excess weight in your vehicle. Every 100 pounds removed from the vehicle improves fuel economy by 1-2 percent.
  • Drive conservatively. Aggressive acceleration and speed reduce fuel economy.

AAA Resources for Drivers

  • Enrollment in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 30 cents per gallon on their first fill-up and 5 cents per gallon each additional trip to the pump. Click here for more information.
  • Get a tune up. Make sure your vehicle is properly maintained to optimize its fuel economy. Visit AAA.com/AutoRepair to find a certified repair shop.
  • Find the lowest gas prices in your area using the free AAA mobile app.
  • Determine projected fuel costs for your trip by using the AAA Gas Cost Calculator.

Get Florida Gas Prices




AVERAGE GAS PRICE AAA
(Price per gallon of regular unleaded gasoline)








Monday Sunday A week ago A month ago One year ago
National $3.305 $3,300 $3,280 $3. 178 $3.307
Florida $3.262 $3.264 $3.292 $3.069 $3.222
Georgia $3.074 $3.066 $2,810 $2.808 $3. 111
Click here to view current gasoline price averages


Gas Price Survey Methodology

AAA updates average fuel prices daily at www.GasPrices.AAA.com. Up to 130,000 stations are surveyed daily based on credit card swipes and direct feeds in conjunction with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular unleaded gasoline.

About AAA – The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 US states, the province of Quebec and two US territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offers and more. ACG belongs to the national AAA association with more than 62 million members in the United States and Canada. AAA’s mission is to protect and promote freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.

Source

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