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Florida Gas Prices Drop. And So Does The Demand.
March 30, 2020
Florida gas prices are getting cheaper, as demand drops as residents are urged to stay home to stop the spread of coronavirus.
Gas prices are plunging primarily because Floridians are not driving as much as they normally do this time of year. According to the Florida Petroleum and Marketers Association, gasoline demand in major metro areas is down by as much as 50 percent. Additionally, concession sales inside the stores are reportedly down 10-15 percent.
Florida drivers are now paying an average price of $1.98 per gallon. The state average has declined more than 40 cents in the past month.
The average price per gallon in Escambia County was $1.91 Sunday night. The lowest price per gallon in North Escambia was at $1.75 per gallon at one Cantonment station.
“The cost for gasoline has dramatically declined in the past month, and there are even more discounts to come,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “If the state average eventually drifts below $1.73, pump prices would be the lowest since 2009. That may not be a difficult benchmark to reach. If wholesale prices hold at current levels, the state average could eventually sink below $1.60 per gallon. Although these savings are a tremendous benefit for drivers, unfortunately they come at a time when residents are unable to go out and enjoy them.”
Comments
2 Responses to “Florida Gas Prices Drop. And So Does The Demand.”
Based on wholesale prices, the pump price should be under $1.50 per gallon already but we all know that the pump price trickles down a penny a gallon a day but goes up 10 pennies a gallon a day when the oil price is increasing. If the wholesale price were to stay down where it is for another month or so I don’t think the oil companies will be able to hold gas over $1.50/gallon.
Hope the fuel trucks keep coming in and maintain supplies of all types of motor vehicle fuels. Need fresh fuels in those underground tanks.
Yep, Disney and other attractions are shut down – Thankfully.
Travelers are tending to stay home which is good.
Be Well y’all.