Florida Gas Prices Drop 12 Cents Last Week, But Oil Prices Just Hit New 2024 Highs

   

TAMPA, Florida – Gas prices in Florida dropped by 12 cents per gallon to $3.47 from last week, according to AAA.

“The U.S. price of oil surged to new 2024 highs last week, which could cause gas prices to move higher," said Mark Jenkins, spokesman, AAA - The Auto Club Group. 

AAA says that the U.S. price of crude rose 4% last week a new 2024 high of $86.91 per barrel due to concerns over Ukraine's attacks on Russian refineries and Israel's war with Hamas.

Gas prices also increase in spring due to increased demand from Spring Break travel and refineries switching from winter-blend to summer-blend gasoline.

From March to April, refineries switch from producing winter-blend gasoline to summer-blend. The EPA requires the switch in effort to reduce smog. The difference in blends is based on something called Reid Vapor Pressure (RVP). 

Winter-blend gasoline has a higher RVP than summer-blend. During warmer months, fuels with a high RVP could boil in gas tanks and evaporate, causing air pollution.

 

Most Expensive Florida Metro Markets:

West Palm Beach-Boca Raton ($3.67)

Naples ($3.62)

Fort Lauderdale ($3.55)

Least Expensive Metro Markets:

Panama City ($3.25)

Crestview-Fort Walton Beach ($3.33)

Pensacola ($3.37)