TAMPA, Fla. — Florida gas prices have fallen slightly after the Sunshine State reached a new 2024 when it went up by 13 cents last week, according to AAA.
As of Monday, the state's average is around $3.56 per gallon, which comes after a reported six-cent decline through the weekend. Florida averaged a new 2024 high on Wednesday with an average of $3.64.
In the Tampa Bay area, the current average is the same as the state average, which is a six-cent increase from a week ago.
AAA explains that half the price of gasoline is influenced by the price of oil, which contributes to causing fuel prices to fluctuate.
Through the first quarter of the year, the price of oil reportedly averaged around $75 per barrel. Since mid-March, that average has risen to $84.
For comparison, the average per barrel in 2022 and 2023 were $123.70 and $94, respectively.
"Volatility in the oil market has greatly contributed to rising prices at the pump in recent weeks," Mark Jenkins, a spokesman for AAA, said in a statement. "Oil prices have been reacting to rising geopolitical tensions between Israel and Iran, and OPEC's decision to extend production cuts, in effort to crimp global fuel supplies."
To save money during your next trip to the pump, AAA recommends:
- Combine errands in one trip to limit driving.
- Shop around for the best gas prices in your community.
- Pay with cash. Some retailers charge customers extra when you pay with a credit card.
- Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
- Keep an eye on your speed. Driving aggressively or going too fast reduces fuel economy.
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