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SWFL gas prices continue plunge below state, national averages

Gas Prices
Posted at 5:40 AM, Aug 01, 2022
and last updated 2022-08-01 06:56:49-04

CAPE CORAL, Fla. — Southwest Florida gas stations continue to beat state and national averages for a gallon of regular unleaded fuel.

Monday, some Cape Coral residents awoke to neighborhood pumps advertising $3.83 per gallon.

That beats the statewide average of $3.93, as reported Monday morning by AAA. That's a 17-cent decline from last week and the seventh straight week of price declines.

"After paying almost $5 a gallon just a couple months ago, Florida drivers are likely breathing a sigh of relief when seeing gas prices back below $4 a gallon," said AAA spokesperson Mark Jenkins.

The Naples area continues to be higher than the state average, with prices recorded at $4.13 per gallon on average. The area is second-highest this week, behind the West Palm Beach/Boca Raton region.

Nationwide, the average price as of Monday morning was $4.21.

How is the statewide average calculated?
Per AAA, up to 130,000 gas stations are surveyed for their daily fuel prices. Those reports are based on credit card swipes as well as information provided by the Oil Price Information Service and IT firm Wright Express.

Continued local impacts
Despite the plunge, municipalities are still dealing with the fallout from nearly four months of price hikes.

Monday, Fort Myers city council members will vote on budget changes connected directly to the gas price jump from the spring.

That includes a plan to move $400,000 from its fleet maintenance fund to help pay for gas for the rest of the fiscal year.

They will also put plans on buying new vehicles on hold.