AAA GAS BRIEF: Florida Gas Prices Declining Just in Time for Thanksgiving Holiday Drivers

By  //  November 20, 2018

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54 Million Americans to Travel Over Thanksgiving, Orlando is Top Global Destination

Oil prices hit a new low last week, further fueling the plunge at the pump. Gas prices in Florida dropped another seven cents last week. At $2.50 per gallon, Sunday’s average price in Florida is the lowest since January, and only six cents more than the lowest price this year ($2.44).

(AAA) – Oil prices hit a new low last week, further fueling the plunge at the pump. Gas prices in Florida dropped another seven cents last week.

At $2.50 per gallon, Sunday’s average price in Florida is the lowest since January, and only six cents more than the lowest price this year ($2.44).

Floridians will find the lowest Thanksgiving gas prices in two years.

AAA forecasts nearly 2.8 million Floridians will travel this week for Thanksgiving. Of those, 2.5 million will drive. By that time, the average price for gasoline will be less than last year’s holiday, which was $2.47/g.

“Americans can be thankful for strong oil production and supplies, which have set the table for some of the lowest gas prices of the year,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.

“The state average should carve-off another 5 cents before Thanksgiving. Florida’s average price should eventually reach $2.35 before fully adjusting to recent oil and wholesale gas price declines.”

“However, there is potential for oil prices to rise in December, depending on how markets respond to possible OPEC oil production cuts and sanctions against Iranian oil exports.”

Thanksgiving Travel Volumes
  • Total Thanksgiving Travelers
    • 48.5 million Americans
    • 2.8 million Floridians
    • 1.6 million Georgians
  • Travelers via Automobile
    • 48.5 million Americans
    • 2.5 million Floridians
    • 1.4 million Georgians

Click here to view AAA’s state and metro gas price averages

  • Most expensive gas price averages: Panama City ($2.83), Crestview-Fort Walton Beach ($2.69), and West Palm Beach-Boca Raton
  • Least expensive gas price averages: Tampa-St. Petersburg-Clearwater ($2.33), Orlando ($2.36), and Punta Gorda ($2.38)
Thanksgiving Day Gas Price History
2013 2014 2015 2016 2017 5 Year Average
National $3.28 $2.80 $2.05 $2.13 $2.52 $2.56
Florida $3.46 $2.79 $2.08 $2.10 $2.47 $2.58
Ft. Myers $3.53 $2.83 $2.02 $2.02 $2.43 $2.57
Jacksonville $3.40 $2.73 $2.03 $2.04 $2.42 $2.52
Miami $3.49 $2.86 $2.20 $2.22 $2.57 $2.67
Orlando $3.45 $2.75 $2.01 $1.99 $2.42 $2.53
Tampa $3.44 $2.70 $2.01 $2.00 $2.44 $2.52

Sub-$2 Gasoline?

Motorists are beginning to find Sub-$2 gasoline at various filling stations in states with low gas taxes like Tennessee, Alabama, and Louisiana.

However, there are currently zero states where the average price is anywhere near $1.99 per gallon. Oil prices would have to drop another $10-$15 per barrel, for sub-$2 gasoline to be prevalent.

More Than 54 Million Americans to Travel Over Thanksgiving, Orlando is Top DestinationRelated Story:
More Than 54 Million Americans to Travel Over Thanksgiving, Orlando is Top Destination

The state with the lowest average price in the country today is Missouri ($2.28/g).

  • The national average price for gasoline was last below $2 per gallon in March 2016
    • During that time, oil prices were in the high $30’s
  • Florida’s average price for gasoline was last below $2 per gallon in March 2016
    • During that time, oil prices were in the high $30’s
  • Georgia’s average price for gasoline was last below $2 per gallon in August 2016
    • During that time, oil prices were in the low $40’s

Early last week, the U.S. benchmark for crude oil dropped to $55.69 per barrel – the lowest since November 2017.

By Friday, the daily settlement reached $56.46/b – which is still about $4/b less than last week, and $20/b less than this year’s high, set last month.

CURRENT AND PAST PRICE AVERAGES: Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago 2018 Low 2018 High Record High
National $2.631 $2.640 $2.703 $2.872 $2.549 $2.49   (1/3/2018) $2.97 (5/26/2018) $4.11   (7/17/2008)
Florida $2.499 $2.510 $2.574 $2.778 $2.502 $2.44   (1/2/2018) $2.92 (5/25/2018) $4.08   (7/17/2008)
Georgia $2.483 $2.493 $2.567 $2.778 $2.398 $2.35   (1/2/2018) $2.84 (5/27/2018) $4.16   (9/15/2008)
Click here to view current gasoline price averages

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