Florida gas prices decline 20 cents in 10 days

FLORIDA, (WINK)— Florida gas prices dropped 20 cents per gallon over the past 10 days.

Sunday's average price of $4.03 per gallon is 17 cents less than a week ago, 32 cents more than a month ago, and 91 cents more than a year ago. While drivers are enjoying short-term relief at the pump, prices could remain volatile.

According to AAA, Florida has experienced frequent price cycling for more than a year, with pump prices typically declining for about 10 days before jumping sharply early in the week. That pattern does not guarantee an increase this week, but it remains a possibility.

The recent drop in pump prices follows sharp declines in oil and gasoline markets late last week. On April 11, West Texas Intermediate crude oil settled at $96.57 per barrel, down about 13%, or $14 per barrel, from the previous week.

Prices fell sharply midweek amid early optimism surrounding a U.S.–Iran ceasefire, which briefly eased fears of major supply disruptions. At the same time, RBOB gasoline futures tumbled more than 9% in a single session on April 8, pushing wholesale gasoline prices lower and allowing retail pump prices to follow.

However, the relief proved short-lived. Crude oil prices rebounded Sunday night as markets reassessed risks in the Middle East.

WTI was trading above $104 per barrel, supported by continued uncertainty around oil shipments through the Strait of Hormuz, which remains largely restricted. Roughly 20% of the world's oil supply typically moves through the Strait of Hormuz, and shipping traffic has yet to meaningfully return.

"This discount at the pump comes after price drops in both crude oil and gasoline futures last week," said Mark Jenkins, spokesman for AAA. "But it's unclear how long this downward trend can last."

Jenkins added, "Continued uncertainty surrounding the reopening of the Strait of Hormuz is already pushing oil prices higher, which could put upward pressure on gas prices again."

The most expensive metro markets are West Palm Beach-Boca Raton at $4.19, Gainesville at $4.12, and Fort Lauderdale at $4.10. The least expensive metro markets are Panama City at $3.86, Pensacola at $3.86, and Crestview-Fort Walton Beach at $3.89.