Florida gas prices decline slightly as uncertainty continues

Gas prices in Florida shot up 14 cents last week before declining again through Sunday, settling at $4.02 per gallon, according to AAA — The Auto Club Group.

Sunday’s state average was 2 cents less per gallon than the week before, but 7 cents more than a month ago and $1 more than this time last year.

Prices could drift lower this week, AAA said, following a “sharp selloff” in the oil market.

“Crude oil prices fell about 13 percent last week on reports that the Strait of Hormuz would reopen to commercial shipping, easing concerns about supply disruptions. Oil finished the week nearly $13 per barrel lower than the week before, a move that can translate into roughly a 30 cent swing at the gas pump,” a AAA news release said.

However, gas prices may not have time to fully reflect the oil market’s decline, AAA added in their statement. By the end of the weekend, transit through the region appeared to remain restricted. Markets remained on edge as doubts persisted about the strait’s reopening.

That uncertainty, the company said, increases the risk of renewed price swings.

“Oil prices are reacting to fast‑moving headlines, and that volatility makes it difficult to predict what drivers will see at the pump,” AAA spokesperson Mark Jenkins said in a statement. “Last week’s drop could provide some short‑term relief, but with conditions in the Middle East still unclear, prices could move higher again just as quickly depending on how events unfold.”

The most affordable gas in Florida is in Panama City, where the average price for a gallon of regular is $3.72, followed by Pensacola ($3.74) and the Crestview-Fort Walton Beach area ($3.77).

The highest pump prices are in the West Palm Beach-Boca Raton area ($4.16), Naples ($4.08) and Fort Lauderdale ($4.07).

The national average was $4.04 per gallon by Monday morning, when AAA listed Florida gas prices at $3.99 per gallon.