Gas Prices Decline And Will Slip Lower This Week, AAA Says

January 27, 2020

Florida gas prices dropped an average of eight cents last week and are likely to slip even lower in the coming days, according to AAA.

Florida drivers are paying an average of $2.45 a gallon at the pump, while Escambia County drivers were paying an average of $2.38, the lowest metro price in the state. One Cantonment station was at $2.25 per gallon Sunday night, while prices in Pensacola were as low as $2.20 on Airport Boulevard.

“It took almost the entire month, but gas prices are finally beginning to follow a more traditional trend of declining in January,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “With the holiday travel season in the rear view and temperatures turning colder, Americans are not driving as much as they did a month ago. The lower demand has allowed gasoline stocks to swell. Wholesale prices have reached a low that – if they hold - could drag the state average below $2.35 in the next 10 days.”

Despite the recent decline, the state average remains 22 cents per gallon more than this time last year. The difference amounts to an additional $3 for a full 15-gallon tank of gas. That difference could soon begin to narrow as crude oil prices move more in line with last year’s levels.

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