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FLORIDA - Florida motorists are enjoying a rare break at the pump as average gas prices have dropped below $3 per gallon for the first time in several months.
AAA reported Monday that the average cost for a gallon of regular unleaded gasoline in the state has fallen to just under $2.92.
This marks the lowest statewide average since December 2023.
The decline is being linked to concerns over a potential global economic slowdown, which could reduce fuel consumption.
“Prices dipped due to fears that the trade war could trigger a recession and reduce fuel demand,” said AAA spokesperson Mark Jenkins.
However, the downward trend might be short-lived.
As global tensions begin to ease, oil prices have started to rebound — a shift that could soon lead to higher prices at gas stations.
“Reports of easing tensions pushed oil prices higher last week, which could result in rising prices at the pump,” Jenkins explained.
The current average is 17 cents cheaper than just one week ago and 54 cents less than the same time last year.
For the average driver filling up a 15-gallon tank, today’s prices amount to about $44 — saving nearly $8 compared to May 2024.
While Florida drivers can take advantage of the current relief, analysts suggest monitoring fuel trends closely, as market shifts could quickly erase recent savings.
For those looking to compare prices at nearby gas stations, tools like AAA’s Gas Price Finder remain useful resources.