Florida Gas Prices Fall Ahead of Record Independence Day Travel
Florida gas prices dropped 20 cents last week, offering some relief to drivers ahead of the Independence Day travel period, according to AAA.
The state average fell to $3.63 per gallon Sunday, down from $3.83 a week earlier and $4.51 a month ago. Over the past 11 days, Florida’s average price has declined 32 cents per gallon, reducing the cost of filling an average-size gas tank by nearly $5.
AAA said the decline comes as 4.6 million Floridians are expected to travel for Independence Day, including 4.08 million who are projected to drive. Last year, Florida drivers paid an average of $3.11 per gallon on Independence Day. AAA said prices are unlikely to fall below that level before the holiday but could approach the 2024 average of $3.53 per gallon.
“Florida’s state average is now the lowest since early March,” said Mark Jenkins, spokesman for AAA. “Lower gas prices come at an ideal time for summer travel and offer some financial relief for drivers. Still, the outlook remains uncertain. Developments involving the Strait of Hormuz will continue to influence whether prices rise or fall.”
The decrease has been driven in part by lower crude oil prices. AAA said U.S. oil prices fell 16% over the past two weeks amid hopes that an agreement between the United States and Iran would lead to the reopening of the Strait of Hormuz.
The lower prices come as AAA projects Independence Day travel in Florida to set another record this year, with more than 4.6 million residents traveling at least 50 miles from home between June 27 and July 5.
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