AAA: Florida Gas Prices Drop Past $2

Researchers cite low demand as a cause

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Daytona Beach, FL - A new AAA report shows gas is getting cheaper as more residents are told to stay home amid COVID-19/coronavirus concerns.

According to the latest market report, the average price for regular unleaded gas in Florida fell below $2 a gallon for the first time since March of 2016.

On Sunday (March 29th), 75% of gas stations in the state advertised prices lower than $2 a gallon, when, just a week ago, the number of gas stations was 45%.

AAA says gas prices are plunging this far because Floridians aren't driving as much as they do this time of year. According to the Florida Petroleum and Marketers Association, demand in major metro areas is down by as much as 50%. Additionally, sales inside of gas stations took a hit too, with some reporting drops as much as 10-15%.

"The cost for gasoline has dramatically declined in the past month, and there are even more discounts to come," said Mark Jenkins, spokesman for AAA. "If the state average eventually drifts below $1.73, pump prices would be the lowest since 2009. That may not be a difficult benchmark to reach. If wholesale prices hold at current levels, the state average could eventually sink below $1.60 per gallon."

Jenkins added that although these savings are a tremendous benefit for drivers, unfortunately they come at a time when residents are unable to go out and enjoy them. Normally this time of year, drivers are watching pump prices rise as demand increases, and refineries conduct seasonal maintenance and switch to summer gasoline.

Statewide, Florida is seeing an average of $1.98 (as of March 30th), which is a decline of about 40 cents in the past month.

Right now, Volusia County drivers are the only ones seeing average prices below $2 with an average of $1.98 reported in the county, which is down 14 cents over last week's average ($2.12).

Flagler drivers aren't too far from the mark, with an average of about $2.05 seen in the county.

Currently, Gainesville has the highest averages seen in the state with $2.17. The Villages has the lowest at $1.86

The national average currently sits around $2.01