Gas Prices in Florida Show Fluctuation Amid Declining Oil Costs
- Gas prices in Florida show a fluctuation, with West Palm Beach, Naples, and Gainesville being the most expensive cities for gas.
- This trend highlights the varying costs of fuel across different regions in Florida.
- Residents and travelers to these areas may need to adjust their budgets accordingly.
MIAMI - Gas prices in Florida experienced a slight increase early last week, reaching an average of $3.55 per gallon before dropping by seven cents in the following days. As of Sunday, the state average settled at $3.40 per gallon, reflecting a modest rise of three cents compared to the previous week. AAA spokesman Mark Jenkins noted that further decreases in gas prices could be anticipated due to a significant drop in oil prices. Recent reports indicate a decline in China's crude oil imports, which has raised concerns about softening global fuel demand. This trend is contributing to lower gas prices across the state. In Miami-Dade County, the average price for gas was reported at $3.38 per gallon, a slight increase from the previous week, while Broward County saw an average of $3.42 per gallon, up from $3.38. The most expensive gas prices in Florida are found in West Palm Beach, Naples, and Gainesville, while the cheapest prices are located in the panhandle region. In early July, crude oil prices in the U.S. were around $83 per barrel, but have since dropped by 8%, with a notable decline of nearly $3 per barrel last week. The closing price for oil on Friday was $77.16 per barrel, marking the lowest trading level since early June, when Florida's average gas price was approximately $3.30 per gallon.