Florida drivers are enjoying the lowest gas prices in almost a year and a half, with the state average dropping to $2.93 per gallon.
According to AAA, Sunday's statewide average marked the lowest daily price since December 2023.
Drivers in Lee and Charlotte counties are saving even more at the pump, with average prices of $2.84 and $2.88 per gallon respectively. Meanwhile, Collier County drivers are still paying just above the $3 mark on average.
The savings are even more significant when compared to the national average, which currently stands at $3.13 per gallon – 20 cents higher than Florida's average.
Florida gas prices are now 54 cents cheaper per gallon than they were at this time last year.
AAA reports that the recent price drop resulted from fears that a potential trade war with China could trigger a recession and reduce fuel demand.
However, recent reports of easing tensions have pushed oil prices higher, which means consumers could likely see prices at the pump increase in the coming weeks.
"Florida drivers are seeing the lowest gas prices in 17 months," said Mark Jenkins, spokesman for AAA – The Auto Club Group. "Prices dipped due to fears that the trade war could trigger a recession and reduce fuel demand. However, reports of easing tensions pushed oil prices higher last week, which could result in rising prices at the pump."
The U.S. price for crude oil started last week at 57.13 per barrel and rose 5% to $61 by Friday, aligning with April's price levels. Gasoline futures also gained 9 cents.
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