By CBSMiami.com Team

MIAMI (CBSMiami) – Prices at the gas pumps edged down slightly making it just a little bit cheaper for Floridians to fill up their tanks.

Florida’s average gas price is backing off the 2021 high of $3.32 per gallon. The state average is now $3.28 per gallon, after declining 3 cents last week.

READ MORE: Record Warmth In South Florida And This Is What's Causing It

The price of crude oil – which has been the main driver of rising gas prices this year – dropped 7% last week, as domestic oil production and stocks logged weekly gains. It was the first real sign of weakness in the oil market in a month. Unfortunately for motorists, half of that oil price drop was erased by the end of the week, as fuel demand continues to outpace global supplies. The price for U.S. oil settled at $81.27 per barrel, down $2.30 (3%) from the week before – lowering the cost of producing gasoline.

READ MORE: Suspicious Person Call Leads To Police Activity In South Miami-Dade

“Gas prices may inch a little lower this week, following the recent declines in the oil and gasoline futures market,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Despite the setback, significant upward pressure remains in the oil market. Prices are still at 7-year highs and are likely to remain elevated through the holiday season, which will in turn keep upward pressure on prices at the pump.”

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.45), Fort Lauderdale ($3.34), Sebastian-Vero Beach ($3.33)
  • Least expensive metro markets – Sebring ($3.19), Punta Gorda ($3.20), The Villages ($3.22), Tampa-St. Petersburg-Clearwater ($3.23)
MORE NEWS: Mistrial Declared In Dayonte Resiles Murder Trial After Juror Disagreed With Manslaughter Verdict

 

CBSMiami.com Team