AAA GAS BRIEF: Gas Prices Begin to Trickle Downward, Crude Oil Prices Hit Seven-Week Low

By  //  June 4, 2018

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Average price of gas in florida is $2.87 per gallon

ABOVE VIDEO: Tips to help you improve your mileage from the car care experts at AAA.

(AAA) – The summer driving season is in full swing, and it opened with the most expensive gas prices in four years. Fortunately, those prices at the pump are beginning to trickle lower.

The national average price of $2.95 per gallon is 2 cents less than last week. The discount at the pump is begin driven by strong declines in the price of oil – which influences about half the price of gasoline.

Gas prices in Florida declined four cents last week. The state average of $2.87 is 14 cents more than a month ago and 49 cents more than this time last year.

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

  • The most expensive gas price averages in Florida are in West Palm Beach-Boca Raton ($2.97), Miami ($2.93), and Fort Lauderdale ($2.91)
  • The least expensive gas price averages in Florida are in Punta Gorda ($2.77), Orlando ($2.81), Jacksonville ($2.82)

Crude oil prices hit seven-week lows last week as the dollar gained strength and U.S. oil rig count reached the highest level since March 2015.

These factors compounded the downward pressure on crude – initiated when Russia and Saudi Arabia revealed an interest in raising crude output.

The price of oil sank to $65.81 on Friday, after reaching a 4-year high of $72.24 per barrel just two weeks ago.

“Gas prices could drop 10-15 cents, based on recent oil price declines,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “The discount will not happen overnight, because it usually takes a couple weeks for shifts like this to play out at the pump. However, any downward potential would be wiped out if futures prices suddenly bounce higher.”

Average Summer Gas Prices
2014 2015 2016 2017 Today
National $3.57 $2.71 $2.23 $2.31 $2.95
Florida $3.50 $2.58 $2.19 $2.25 $2.87
Georgia $3.48 $2.57 $2.11 $2.18 $2.82
Tennessee $3.35 $2.45 $2.03 $2.08 $2.70

Gas Price Tools

ABOVE VIDEO: How to spend less money on gas? How to drive a car easily and safely? Here are 10 brilliant driving hacks and secrets that will help you save gas money and drive your car like a pro. (Video by Brightside)

Fuel-Saving Tips (Source: US Department of Energy)

Drive Sensibly – Aggressive driving (speeding, rapid acceleration, and braking) wastes gas.

  • Gas mileage can be reduced 15-30% at highway speeds / 10-40% in stop-and-go traffic
  • The equivalent of 27¢ – $1.08 per gallon

Observe the speed limit

  • Not only is it safer – it can help you save money
  • Gas mileage rapidly declines at speeds above 50 mph
  • Every 5 mph you drive over 50 mph is like paying an additional 19 cents per gallon
AAA REPORT: Most Floridians Prepared For 2018 Hurricane Season, 81-Percent Have Made PreparationsRelated Story:
AAA REPORT: Most Floridians Prepared For 2018 Hurricane Season, 81-Percent Have Made Preparations

Lose the weight

  • Using your trunk for storage can cost you by way of lower fuel economy
  • Remove unnecessary items from your vehicle.
  • An extra 100 pounds in your vehicle reduces your miles per gallon by about 1%
  • Like paying an additional 3 cents per gallon for every 100 pounds

Use cruise control

  • Cruise control on the highway helps you maintain a constant speed
  • Conversely, constant throttling at high speeds consumes gasoline much faster

Avoid excess idling

  • Idling uses a quarter to a half gallon of fuel per hour
  • Turn off your engine when your vehicle is parked
  • It only takes 10 seconds worth of fuel to restart your vehicle

Combine Trips

  • Saves time and money
  • Fuel economy is better when your engine is warmed up and you make multiple stops

Inflate Tires

  • Keeping your tires inflated to the proper pressure can improve your gas mileage up to 3%
  • It can mean the difference of a couple cents per gallon
  • Find the recommended tire pressure on a sticker located on the driver’s side door jamb

CURRENT AND PAST PRICE AVERAGES: Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago One Year Ago Highest Price on Record
National $2.950 $2.953 $2.970 $2.817 $2.378 $4.114 (7/17/2008)
Florida $2.866 $2.874 $2.913 $2.734 $2.375 $4.079 (7/17/2008)
Georgia $2.820 $2.822 $2.843 $2.729 $2.221 $4.164 (9/15/2008)
Tennessee $2.704 $2.708 $2.728 $2.595 $2.108 $4.118 (9/15/2008)
Click here to view current gasoline price averages

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