Florida - Wednesday July 6, 2022: For the third straight week in a row the average price of a gallon of regular unleaded gas in Florida fell over the extended July 4th holiday weekend, dropping to $4.54 as of Tuesday, July 5.
The state average declined nearly 10 cents since last week and has dropped a total of 35 cents through the past three weeks.
AAA Florida reports that prices dropped despite increased demand from an expected record number of travelers over the holiday. AAA says the final July 4th traveler total won't be released until the 2023 holiday forecast.
"Gas prices are being dragged lower by falling crude oil prices, which suffered steep losses Tuesday, on worries of a global economic slowdown," said AAA Florida spokesman Mark Jenkins. "If the future price-drops continue to hold, drivers could see Florida gas prices drift back below $4.10 per gallon." But Jenkins cautioned that the it "is still an extremely volatile fuel market" and he noted that crude prices have rebound "many times in the past several months."
Despite the decline in the average price, the varied costs per gallon across the state over the holiday weekend was still the most expensive Independence Day gas prices in Florida on record.
The average price on Monday 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.
Crude Oil
On Tuesday, the price for U.S. crude oil plummeted, falling below $100 a barrel for the fist time in eight weeks. Tuesday's closing price of $99.50 per barrel is nearly $9 (16%) less than the week before, and the lowest daily settlement since April 25 of this year.
Regional Florida Prices
• Most expensive metro markets – West Palm Beach-Boca Raton ($4.72), Naples ($4.64), Miami ($4.63)
• Least expensive metro markets – Crestview-Fort Walton Beach ($4.38), Panama City ($4.43), Melbourne-Titusville ($4.44)
Find Florida Gas Prices
- Daily gas price averages can be found at Gasprices.aaa.com
- State and metro averages can be found here