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In the final stretch of the year, as millions of people prepare to travel by road during the holiday season, gasoline prices in Florida have taken a new turn: the average price has dropped to levels not seen since May 2021, providing significant relief for drivers' wallets.
With an average reduction of 12 cents per gallon in just one week, most stations in the state are reporting prices below $3, with averages even below $2.70 in some areas of northern Florida.
A sustained downward trend
“Gas prices in Florida have dropped for three consecutive weeks”, explained Mark Jenkins, spokesperson for AAA - The Auto Club Group, in a recent press release cited by The Miami Herald.
"If the current trend continues, those traveling on vacation will find the lowest gas prices in years," he added.
In total, the average price in Florida has dropped 31 cents in the last 23 days, representing a significant decrease for those who rely on their cars daily or plan road trips during the celebrations.
On Sunday, December 14, the average price was $2.81 per gallon, which is 11 cents less than the previous week.
This figure also marks the lowest daily price since May 2021, putting into perspective the magnitude of the decline.
Regional X-ray: Where is gasoline cheaper?
AAA shared the breakdown of prices by regions in Florida for Monday, December 15, providing a clear view of the landscape:
-More affordable markets:
Panama City: $2.66.
Pensacola: $2.67.
Crestview-Fort Walton Beach: $2.66.
Fort Myers and Bradenton/Sarasota: $2.73. Jacksonville: $2.78.
In South Florida, the average prices have also decreased, although at a slower pace.
Miami-Dade: $2.83 (8 cents less than the previous week).
Fort Lauderdale: $2.83 (down 9 cents).
West Palm Beach/Boca Raton: $2.91 (a significant decrease of 16 cents).
Most expensive markets:
West Palm Beach/Boca Raton: $2.91.
Naples: $2.85.
Gainesville: $2.87.
What’s behind the downturn?
From a national perspective, the average price in the United States is also experiencing a decline, now sitting at $2.90 per gallon, five cents lower than the previous week.
Patrick De Haan, head of petroleum analysis at GasBuddy, explained that this phenomenon is not only a result of market seasonality but also of structural factors that favor a sustained decline
"For the third consecutive week, the national average price of gasoline has decreased, reaching a new low not seen in several years," stated De Haan.
"Just before Christmas, the national average is at its lowest level since March 12, 2021, representing a weekly savings of nearly 400 million dollars compared to this same time last year," he added.
The trend, according to the specialist, is due to the completion of maintenance at the refineries, which allows for production levels close to summer highs.
This is compounded by a greater supply of crude oil following the OPEC production increase, which has put downward pressure on oil prices.
"The good news is that the downward trend could continue until the end of 2025," predicted De Haan, which opens a window of extended relief for consumers and sectors reliant on transportation.
More than six million drivers will appreciate it
According to AAA's estimates, 7.5 million Floridians are expected to travel during this holiday season, with 6.7 million of them doing so by car. The drop in fuel prices thus becomes good news for everyone as Christmas approaches.
Those planning long trips will notice a tangible difference in their fuel expenses compared to the levels recorded in 2022 and 2023. A full tank of gasoline on average in the state can mean savings of between 5 and 8 dollars compared to previous weeks.
For those looking to maximize savings, applications like GasBuddy provide real-time updated information on stations with the lowest prices in the area.
This app also allows users to view stations with or without fuel available based on supply changes.
In summary, Florida is closing the year with an unexpected sustained drop in gasoline prices, coinciding with one of the busiest travel seasons.
While the factors behind this decline could change at any moment, the current trend favors both local drivers and those traveling long distances to reunite with their loved ones.
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