ORLANDO, Fla. — Florida gas prices have been on a downward trend over the past two weeks, AAA reported.
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Some drivers have even found prices below $4 a gallon throughout the state.
AAA reported that the downward trend may level out after the price of oil rebounded last week.
Florida’s average prices for gas was $4.12 a gallon on Sunday, AAA reported.
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The average price is 6 cents per gallon less than a week ago and 26 cents less per gallon than the record high of $4.38, which was set a little more than two weeks ago.
AAA said despite the recent dip, pump prices remain 93 cents per gallon more than the 2022 low and $1.93 per gallon more than the lowest price in 2021.
“Global fuel supply concerns continue driving extreme volatility in the fuel market, leading to big swings in the price of oil,” said Mark Jenkins, with AAA. “After seeing strong drops two weeks ago, oil rebounded last week to a level that should cause falling gas prices to level off.”
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AAA reported that the U.S. price of oil settled at $113.90 per barrel on Friday, which was $9.20 per barrel (9%) more than the week before. “Despite the increase, oil remains almost $10 per barrel less than the 2022 high of $123.70/b reached nearly three weeks ago. The $10/b discount translates to a 25 cent drop at the pump, which already happened in the past two weeks,” AAA said.
It will cost drivers $62 to fill up a 15-gallon tank.
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In Central Florida, drivers can find the cheapest gas prices in Orlando at $4.03 a gallon and in Melbourne/Titusville at $4.04 a gallon.
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