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Florida Drivers Enjoy Slight Drop in Gas Prices Amidst Warning of Imminent Increase

Florida Drivers Enjoy Slight Drop in Gas Prices Amidst Warning of Imminent IncreaseSource: Unsplash/ Dawn McDonald
Carlos Mendez
Published on February 12, 2024

Florida drivers have been experiencing a bit of relief at the pump with gas prices on a downward trend for the past 10 days. According to WPTV, the average price across the state has dropped 13 cents per gallon, settling at $3.14. However, this decline might soon come to a halt as experts anticipate a price hike.

AAA spokesman Mark Jenkins issued a word of caution, stating "Florida gas prices have recently followed a cycle where they decline for about two weeks, then shoot back up again." He further noted that, "That trend, plus a recent uptick in futures prices, will likely lead to jump at the pump, possibly as early as Monday afternoon," as obtained by WPTV. This pattern of fluctuating prices seems to soon reverse the current trend of savings.

While the state average has seen a decrease, the West Palm Beach-Boca Raton area remains on the higher end of the spectrum with prices lingering at $3.34 per gallon. This is the most expensive in the state, followed by Naples at $3.24, according to Florida Politics. In contrast, more affordable gas can be found in Panama City, where it's going for $2.93, and Crestview-Fort Walton Beach at $2.99.

On the national front, Florida's average falls slightly below the country's average of $3.20 per gallon. The reductions in local gas prices have mainly been attributed to reduced refinery activity as they undergo seasonal maintenance and begin to switch over to Summer blend gasoline, as reported by Florida Politics. Yet, oil and gasoline futures prices have seen an uptick last week, indicating that drivers might have to dig deeper into their wallets to fill their tanks in the near future.

Still, Florida finds itself in a relatively moderate position when compared to states like Hawaii, where drivers are paying a premium of $4.68 per gallon. Conversely, Wyoming boasts the cheapest fuel at $2.70 per gallon. Demands for fuel continue to fluctuate, keeping motorists guessing about the next turn in the ever-twisting road of gas prices.

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