Florida gas prices continue to drop; Several Escambia County Stations Under $ 3 Now: NorthEscambia.com
Florida gas prices are still falling, but might not drop as far as expected, after oil prices rebounded last week, according to AAA.
The state average slipped 3 cents last week and a total of 10 cents in the past 23 days. Florida drivers now pay an average price of $ 3.27 per gallon.
The average price in Escambia County was more than a penny lower at $ 3.18. in North Escambia, at least four stations were under $ 3 Sunday night, as were several in the Pensacola area. The low price was $ 2.87 at warehouse clubs.
Two weeks ago, AAA began asking for a potential 20-30 cent rebate at the pumps, after oil prices fell 16% after Thanksgiving. The drop in crude prices was based on concerns about the severity of the emerging omicron variant and whether it would have a potential impact on global economic growth and limit mobility.
However, about half of that price drop was wiped out last week as concerns over omicron appeared to ease. After going from $ 78 a barrel to $ 65 two weeks ago, the price of crude fell back to $ 71.67 on Friday. Despite the increase, oil prices are still lower than they were two weeks ago and prices at the pump still haven’t fully adjusted.
“After plunging two weeks ago, the crude market picked up strength last week,” said Mark Jenkins, spokesperson for AAA – The Auto Club Group. “As a result, that 20 to 30 cent drop that we were anticipating could look more like 10 to 20 cents. Oil prices remain the main drivers of prices at the pump. So if oil prices rise again this week, drivers will have to adjust their expectations again. “
Photo from NorthEscambia.com.