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Gas prices declined an average of 3 cents per gallon last week

Staff Report

 HOLMES AND WASHINGTON COUNTIES - Florida gas prices are beginning to trickle lower. Retail prices are backing off from the 20-week high of nearly $2.16 per gallon, which was set eight days ago. 

In Holmes and Washington Counties, gas began to show similar declines, with some pump prices declines to averages of $2.07 per gallon, showing a slight relief to wallets of drivers.  

The state average declined 3 cents per gallon last week. Florida drivers are now paying an average price of nearly $2.13 per gallon.

"Florida drivers continue to enjoy unusually low gas prices for this time of year," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The cost for a full tank of gas is about $5 less than it was this time last year. The pandemic's effect on fuel demand continues to weigh on crude oil and wholesale gasoline prices, preventing any monumental gains. Low oil prices make it cheaper to produce and sell gasoline."

The price for a barrel of US crude oil settled at $41.22, Friday on the NYMEX. Crude prices have held close to the $41 range for the past six weeks. This time last year, the price of crude was around $54 per barrel, the difference of about 30% from what crude is now.

Florida's state average is 5 cents per gallon less than the national average for gasoline. The U.S. average of $2.18 per gallon is down 1-cent from a week ago. It remains nearly 50 cents per gallon less than this time last year. 

Regional Prices

Most expensive metro markets – West Palm Beach-Boca Raton ($2.23), Gainesville ($2.16), Fort Lauderdale ($2.15)

Least expensive metro markets – Punta Gorda ($2.05), Crestview-Fort Walton Beach ($2.08), Pensacola ($2.08)