AAA: Pump Prices Drop for 30 Consecutive Days in Florida, Higher Oil Prices Could Stall the Fall
By AAA // June 26, 2018
average in Florida is $2.70 per gallon
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(AAA) – Gas prices in Florida declined for the 30th consecutive day on Sunday. However, higher oil prices may soon put the brakes on that downward streak at the pumps.
The state average of $2.70 is 6 cents less than a week ago and 21 cents less than last month. However, motorists are still paying nearly 50 cents more per gallon compared to last year.
Oil prices shot-up $3 on Friday, which usually increases the cost of producing gasoline. The increase in crude came after OPEC and Russia announced an agreement to raise oil production.
While a production increase would normally put downward pressure on oil prices, it’s still unclear exactly how much more oil will be reintroduced into the market and which countries it will come from.
The uncertainty is causing what’s considered to be a short-term increase in oil prices. Ultimately, oil prices are forecast to decline after the details are hammered out.
On Friday, the price of oil settled at $68.58 per barrel – $3.50 more than the week before. Gasoline futures jumped 5 cents on the NYMEX.
“This news could bring some volatility back to the pumps this week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
“Gas prices could rise a couple pennies or simply level out. Anything more than that would require crude to make additional gains this week. Regardless, it’s encouraging that OPEC decided to raise production in hopes of avoiding a global supply deficit. That’s good news for motorists because this should eventually lead to lower prices at the pump.”
Click here to view AAA’s state and metro gas price averages
- The most expensive gas price averages in Florida are in Miami ($2.85), West Palm Beach-Boca Raton ($2.84), and Crestview-Fort Walton Beach ($2.82)
- The least expensive gas price averages in Florida are in Tampa-St. Petersburg-Clearwater ($2.58), Punta Gorda ($2.59), and Orlando ($2.61)
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Fuel Savings Tips
ABOVE VIDEO: AAA gets seven-plus million calls during the average summer, with the top 3 items being flat tires, dead batteries, and lockouts. With some simple precautions, you can avoid being a victim on the side of the road.
Drive Sensibly – Aggressive driving (speeding, rapid acceleration, and braking) wastes gas.
- Gas mileage can be reduced 15-30 percent at highway speeds / 10-40 percent in stop-and-go traffic
- The equivalent of 27¢ – $1.08 per gallon
Observe the speed limit
- Not only is it safer – but 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 for gasoline
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
- Saves time and money
- Fuel economy is better when your engine is warmed up and you make multiple stops
- 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
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