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Florida Holiday Gas Prices Hit Seven-Year Low

The statewide low reflects a national trim stemming from a lower demand for oil and oversupply of domestic product. Photo: Flickr.

The statewide low reflects a national trim stemming from a lower demand for oil and oversupply of domestic product. Photo: Flickr.

Florida drivers are seeing the lowest prices this holiday season they’ve seen in seven years. AAA reports gas is now $2.02 per gallon on average, down from $2.49 at the same time last year.

AAA spokesman Mark Jenkins says the price drop is common this time of year.

“Usually during the wintertime, you’ve got fewer people who are driving, so demand for gasoline isn’t as high as it is during the summertime. But then you’ve also got the price of oil which is exceptionally low right now.”

Gas prices in Florida and other states, he says, are on a downward trend because in simple economics: demand is less. Domestic refineries are offering more gas options, and more people are traveling by air this time of year.

But he says drivers can expect change towards the spring.

“February is often times the first month that prices start to move upward. Refineries are shutting down some of their systems to do some maintenance on their machineries. So they’re not putting out as much gasoline as they normally would.”

The national average price fell below $2 per gallon—to a six-year low—on Sunday night.

AAA data show the average motorist has saved about 550 dollars this year compared to last.


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About Renata Sago

Renata Sago

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