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Florida gas returning to $3 a gallon? It could happen as prices continue to fall

Carl Lisciandrello
/
WUSF Public Media

Florida motorists could once again see gas prices drop below $3 a gallon.

According to a release from AAA, the price of crude oil has continued to fall after Thanksgiving over concerns about how the omicron variant would affect fuel demand.

It has dropped 21% below the yearly high nearly four weeks ago, according to AAA.

That decline is reflected at the gas pump, as the average for a gallon of gas dropped to $3.30 across the state last week, after declining 4 cents the previous week.

Prices at the pump are slowly — but gradually — dropping, AAA says. At the current rate, the price of gas could return to $3 a gallon.

"An oil price drop of that magnitude, if sustained, could potentially drive the state average back below $3 a gallon," AAA spokesman Mark Jenkins said in the release.

"But it won't happen overnight. Florida pump prices are falling at a rate of 1 cent a day. Unless that rate accelerates, it could take a few more weeks before pump prices fully adjust."

Motorists are now paying an average of $3.28 in the greater Tampa Bay region.

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