By The News Service of Florida
Seasonal declines and optimism the conflict with Iran could end following the midterm elections are cited as reasons gas prices have fallen 40 cents since the middle of October.
AAA put the average gallon of gas in Florida at $3.79 on Monday, the lowest since July.
While it’s still the highest pump price ever at this time of year, AAA spokesman Mark Jenkins said the recent trend is “encouraging for drivers.”
“Florida drivers are finally seeing some meaningful relief at the pump, and there could be more on the way,” Jenkins said in a released statement. “Oil and gasoline futures dropped sharply last week, and those lower prices can take time to work their way through the fuel supply chain. If the market remains favorable, pump prices could continue moving lower.”
The state average, which reached $4.23 on Oct. 15, was $3.86 last Monday.
“On the timing and why: the decline is seasonal mainly and also oil dropping on optimism over a possible deal with Iran,” Patrick De Haan, head of petroleum analysis at GasBuddy, posted on X.
The lowest averages in Florida were found in the western Panhandle, with Escambia County at $3.45 on Monday, and in rural areas west of Jacksonville and the Space Coast.
Monroe County continues to top the state at $4.10 a gallon, with areas of South Florida, the Big Bend and counties immediately outside of Tallahassee showing the highest averages.
Diesel was $5.89 a gallon on Monday, down 9 cents from a week earlier.
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