Florida

The price of gas in Florida may go down this week. Here’s why

Florida gas prices have been on the rise.

In the last two weeks, pump prices have risen 26 cents, bringing the average cost-per-gallon to $2.67 as of Monday morning.

But the AAA expects prices to drop 5 cents this week, keeping Florida’s average gas price below the national average of $2.75.

AAA points to rising doubts of a U.S.-China trade agreement in predicting the five-cent cent drop. An agreement with China would cause a spike in energy demand as Chinese oil imports from the U.S. put a strain on available fuel.

“With that battle waging on, we have a limiting effect on demand,” AAA spokesman Mark Jenkins said.

Recent increases may be rooted in U.S. Iran tensions, with attacks on the U.S. in the Strait of Hormuz, posing obstacles to acquiring crude oil from the Middle East at cheap rates, CNBC reports. The strait is the world’s busiest transport lane for maritime oil shipments.

The predicted $2.62 per-gallon could decrease even more if the price of crude oil continues to decline, AAA said. In the last week, oil prices have decreased by $2 per barrel after rising $7 per barrel the week before. This time last year, oil was $15 per barrel more expensive than it is now.

Within Florida, the cheapest gas prices are in Crestview-Fort Walton Beach, Punta Gorda and Miami, with each dipping below the state average, AAA reports. West Palm Beach-Boca Raton, Sebring and Homosassa Springs all stand above the $2.67 average by between four and five cents.

Miami-Dade is among the counties with the cheapest gas, according to GasBuddy.com. The lowest prices are at Sunshine Fuels in Little Havana, at $2.37 per gallon. The most expensive pumps are $1.22 per gallon higher. While GasBuddy also expects an eventual decrease in Florida gas prices, they think it may take a bit longer than a week, spokesperson Allison Mac said.

The range of gas prices within the city and state come from a variety of factors, Jenkins said, including proximity to ports. Counties and cities closer to the ports have lower transportation costs for gas. Stations in areas where its cheaper to run a business — such as those with lower property taxes — also tend to have lower prices.

In the meantime, Miami drivers can expect to see some pumps with prices lower than $2.50 a gallon.

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