AAA: Florida Gas Prices Fall Four Cents, Brevard County Drivers Paying $2.10 at the Pump
By Space Coast Daily // August 18, 2020
Pump prices are the lowest in 3 weeks
BREVARD COUNTY, FLORIDA – Florida gas prices dropped 4 cents last week. The state average has now declined the past 15 consecutive days for a total discount of 6 cents.
Florida drivers are now paying the lowest gas prices since late July. The state average price for regular unleaded is $2.09 per gallon. That’s 4 cents less than a week ago.
On average, drivers are paying 36 cents per gallon less than this time last year. The cost for a full tank of gas is $31 – almost $6 less than this time last year.
“Gas prices are drifting lower, reaching the low $2.00-range in many markets,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
“Prices are declining as concerns about elevated cases of COVID-19 continue to dampen expectations for fuel demand. The current outlook has prevented crude oil prices from gaining any significant ground, thus keeping gas prices low.”
Last week, the International Energy Agency (IEA) revised its global oil demand forecast for 2020. Before the pandemic, the IEA set 2020 global demand expectations at 101 million barrels per day. Now, that forecast is down to 91.9 million barrels per day.
The IEA cites COVID-19 as the culprit, causing reductions in road and air travel. In the report, the IEA suggests that business travel will remain severely curtailed until a vaccine is found, while leisure travel will mainly be limited to domestic trips and short-haul flights; crimping the demand for jet fuel.
Crude oil prices are still holding within the $41-$42 per barrel range. On Friday, the price for US crude oil settled at $42.01 per barrel – 79 cents more than the week before.
Most expensive metro markets – West Palm Beach-Boca Raton ($2.22), Gainesville ($2.15), Tallahassee ($2.14)
Least expensive metro markets – Punta Gorda ($1.99), Orlando ($2.05), Fort Myers-Cape Coral ($2.05)
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