Florida - Monday June 5, 2023: Florida gas prices declined 5 cents last week. The state average on Sunday was $3.36 per gallon. That's the lowest daily average price since late April.
"Pump prices have been under pressure during the past month, due to falling oil prices," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "However, oil prices could strengthen this week. Over the weekend, OPEC agreed on another round of oil production cuts. It's unclear how much of an effect this will have on fuel prices, but if oil prices rise significantly, drivers would likely see higher prices at the pump."
This is the latest in several rounds of production cuts. Last year, OPEC agreed to cut oil production by 2 million barrels per day. In April, the cartel surprised the market by cutting an additional 1.16 million barrel per day. This caused a brief jump in oil prices, which cooled through May. OPEC hopes this additional 1 million b/d cut will send oil prices higher again.
Overnight, the U.S. price of oil traded at above $72 per barrel. That's only about a dollar more than Friday's closing price, and within the same range that oil prices have been in during the past month.
Regional Florida Prices
- Most expensive metro markets – West Palm Beach ($3.60), Naples ($3.48), Miami ($3.48)
- Least expensive metro markets – Crestview-Fort Walton Beach ($3.20), Panama City ($3.29), Pensacola ($3.30)
Find Florida Gas Prices
- Daily gas price averages can be found at Gasprices.aaa.com
- State and metro averages can be found here
Ways to Save on Gasoline
- Combine errands 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 with a credit card.
- Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
- Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
AAA Resources for Drivers
- Enroll 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. Ensure 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 by using the free AAA mobile app.
- Determine anticipated fuel costs for your trip by using the AAA's Gas Cost Calculator.