Florida gas prices continued to decline through the Memorial Day holiday weekend. The daily average price for gasoline is now the lowest since March; yet travelers found the lowest Memorial Day gas prices in two years. Florida gas prices now average slightly below $2.60 per gallon. The state average was 31 cents less than last year’s holiday, but 30 cents more than the year before (2017).
The average price in Florida declined for the 24th consecutive day on Monday, for a total discount of 19 cents. Monday’s average price of $2.60 per gallon is 4 cents less than a week ago, 12 cents less than last month, and 31 cents less than this time last year.
Last week, the price of crude (WTI) dropped a total of $4.47 per barrel; falling from the weekly high daily settlement of $63.10/b on Monday, to a low of $58.63/b.
The latest supply data from the EIA showed a 1-percent gain in domestic crude supplies and a 1.7 percent jump in gasoline supplies, compared to the week before. Although gasoline stocks remain 2.2 percent below year-ago levels, crude stocks are soaring nearly 9 percent higher than this time last year.
Most expensive metro markets West Palm Beach-Boca Raton ($2.71), Panama City ($2.70) and Miami ($2.69)
Least expensive metro markets Tampa-St. Petersburg-Clearwater ($2.52), Orlando ($2.53) and Melbourne-Titusville ($2.53)
Storm notesFloridians are becoming more concerned about hurricane season, after enduring four major storms in the past three years, including a Category 5 last year.
According to a recent AAA survey, 92 percent of Floridians are worried about the 2019 hurricane season. Nearly one in five (19 percent) are more concerned than last year. Despite growing fears, nearly a quarter of Florida residents do not make advanced preparations for hurricane season or severe weather, even though the recent hurricanes Florence, Michael, Harvey, Irma and Maria caused more than $200 billion in damage, according to floodsmart.gov.
Based on AAA findings, if a named storm were to cause an evacuation, the majority of Floridians (79 percent) would heed official warning and leave their homes. However, of those who would evacuate, more than half (62 percent) would only leave for a Category 3 hurricane or greater.