ORLANDO, Fla. — Florida gas prices are falling, but they likely won’t drop as low as experts recently predicted.
It looks like crude oil will be the Grinch who stole lower holiday gas prices, according to new data released by AAA.
Late last month, the auto giant estimated gas prices would fall significantly in the weeks to come — as much as 30 cents a gallon.
But oil prices — back on the rise as concerns ease over the omicron variant — should slow the rapid decline of the cost of gasoline.
“That 20-30 cent drop we were anticipating, could be more like 10-20 cents,” said AAA’s Mark Jenkins.
“Oil prices remain the main drivers of prices at the pump. So if oil prices increase again this week, drivers will again need to adjust their expectations,” Jenkins added.
It’s important to remember the silver lining in all of this — the cost of gas is still falling, albeit more slowly.
AAA said the state average fell 3 cents last week and has dropped a total of 10 cents over the past three weeks or so.
In Florida, drivers are now paying an average price of $3.27 per gallon — the lowest daily average price since mid-November.