Florida gas prices hit four-month low as drivers see relief at the pump, AAA says

article File: Gas pumps The Brief Florida gas prices dropped to an average of $3.80 per gallon Sunday, reaching their lowest level in four months, according to AAA. Falling crude oil and wholesale gasoline futures have reduced retail costs, though local supply dynamics dictate pump prices. Drivers across Florida can cut expenses by monitoring price differences through mobile apps and modifying daily driving habits. TAMPA, Fla. - Florida gas prices fell to their lowest level in four months, giving drivers some relief at the pump as declining oil and gasoline futures could lead to additional price drops. The statewide average was $3.80 per gallon on Sunday, Nov. 8, down 7 cents from the previous week, according to AAA. That's also 38 cents less than a month ago, when the average was $4.18. Florida gas prices have dropped 62 cents since reaching a peak of $4.42 in late September. The current average is also nearly 72 cents below the state's 2026 high of $4.52, recorded May 7. Why are Florida gas prices dropping? By the numbers: Declining oil and gasoline futures have helped push prices lower in recent weeks, amid signs of improving global supplies, softer demand and easing concerns about potential supply disruptions. U.S. crude oil settled at $90.83 per barrel Friday, nearly $11, or 11%, below its Oct. 20 settlement of $101.79. Gasoline futures also declined, settling at $2.78 per gallon Friday. That's nearly 33 cents below the Oct. 19 settlement of $3.11. AAA spokesman Mark Jenkins said the recent market changes could mean additional savings for Florida drivers. "Florida drivers are finally seeing some meaningful relief at the pump, and there could be more on the way," Jenkins said. "Oil and gasoline futures dropped sharply last week, and those lower prices can take time to work their way through the fuel supply chain. If the market remains favorable, pump prices could continue moving lower. While it's unclear how low prices could go, the recent market moves are encouraging for drivers." However, retail gas prices don't always move in lockstep with futures markets. Regional supply conditions, distribution costs and other factors can affect how quickly lower wholesale prices reach drivers. How much is gas in Florida compared to the national average? Big picture view: Florida's average of $3.80 per gallon was about 22 cents below the national average of $4.02 on Sunday. File: Gas pump The national average also declined, falling 15 cents over the previous week. Here's how average gas prices compared Sunday: Florida: $3.80 National: $4.02 Georgia: $3.48 Florida's average is down 38 cents from a month ago and 93 cents below the national average's year-ago comparison of $3.07. Where is gas most and least expensive in Florida? Dig deeper: Gas prices vary across the state, with some metro areas seeing significantly lower averages than others, according to AAA. Most expensive Florida metro markets: West Palm Beach-Boca Raton: $3.97 Gainesville: $3.92 Fort Lauderdale: $3.86 Least expensive Florida metro markets: Panama City: $3.50 Pensacola: $3.52 Crestview-Fort Walton Beach: $3.55 How can drivers save money on gas? What you can do: AAA recommends several ways drivers can reduce fuel costs, including: Comparing prices using the AAA Mobile App. Combining errands into one trip. Checking tire pressure regularly. Avoiding aggressive driving and speeding. Enrolling in fuel rewards programs. Paying with cash when stations offer lower cash prices. Drivers can check local gas prices and compare averages across Florida by visiting AAA's gas price website . The Source: The information in this story was gathered from AAA, who provided statewide and national price surveys, crude oil settlement benchmarks, metro pricing data and statements from spokesman Mark Jenkins. Florida Consumer Economy