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Florida gas prices hit five-month low amid coronavirus surge concerns

Concern over a rise in cases is pushing oil prices.
Florida gas prices hit five-month low amid coronavirus surge concerns. Pictured are cars on I-275 in June. | [MARTHA ASENCIO RHINE | Times]
Florida gas prices hit five-month low amid coronavirus surge concerns. Pictured are cars on I-275 in June. | [MARTHA ASENCIO RHINE | Times] [ MARTHA ASENCIO RHINE | Times ]
Published Nov. 9, 2020

Florida gas prices hit a five-month low this week.

According to AAA, the Auto Club Group, state gas prices averaged $2 Monday, down 4 cents over the week and 17 cents since last month. Tampa Bay prices were even lower at $1.93 per gallon on average, down 6 cents from last week and 25 cents from last month.

The bay area had the third-lowest gas prices in the state Monday.

“Demand concerns related to surging cases of COVID-19 continue to weigh on the global fuel market, leading to lower prices at the pump,” said Mark Jenkins, AAA spokesman.

Related: Gasoline just got less expensive in Florida and even cheaper in Tampa Bay

Oil markets this year have been tumultuous. After a brief uptick, prices of crude oil futures fell to a five-month low last week, the Wall Street Journal reported.

Gas prices across the country are about 9 percent lower than they typically are this time of year, AAA said.

Punta Gorda had the lowest average gas prices of metro areas in the state ($1.88 per gallon) followed by Orlando ($1.92 per gallon) and Tampa Bay.

The state’s highest average gas prices were in West Palm Beach ($2.15 per gallon), Panama City ($2.09 per gallon) and Pensacola ($2.07 per gallon).

State prices could push down even farther over the coming days, AAA’s Jenkins said.

“The state average should slip below $2 a gallon and sink to $1.95 by the weekend,” he said.

If it did, this would be the first time since early June that Florida gas prices dipped below $2 per gallon on average.

Nationally, gas prices were $2.11 per gallon on average, down 2 cents over the week and 8 cents since this time last month.

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