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Economy / Business

Gas prices across Florida continue to drop, but are expected to level off

Close-up of a gas pump
Victoria Crosdale
/
WUSF Public Media
Gas prices across Florida continued inching down, with some areas falling below $4 a gallon.

AAA says concerns over fuel supply are resulting in extreme volatility in the fuel market."

Gas prices across Florida continued inching down last week, with some areas falling below $4 a gallon.

But that trend may not last long.

According to a release from AAA, gas prices may level out after the price of oil rebounded last week.

"Global fuel supply concerns continue driving extreme volatility in the fuel market, leading to big swings in the price of oil," AAA spokesman Mark Jenkins said in the release.

The average price of a gallon of gas fell to an average of $4.12 a gallon across the state, a 6-cent decrease from the previous week and 26 less than the record of $4.38, set a little more than two weeks ago.

Despite the drop, AAA says prices remain 93 cents per gallon more than the 2022 low and $1.93 per gallon more than the lowest price in 2021.

Drivers across the greater Tampa Bay region are averaging just over $4 a gallon.