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Florida gas prices stabilize above $4 a gallon as oil prices slowly drop

Gas Prices
Posted at 10:58 AM, Apr 25, 2022
and last updated 2022-04-25 17:56:28-04

TAMPA, Fla. — While oil prices have dropped below $100 a barrel at times over the past few days, gas prices in the Sunshine State have stabilized, albeit well above $4 a gallon.

According to AAA, a gallon of unleaded costs $4.10 a gallon across Florida. That's roughly the same price gas was a month ago ($4.12), but up by $0.10 since last Monday.

In the Tampa Bay area, a gallon of unleaded runs anywhere from $4.07 in Pasco County to $4.12 in Sarasota County, AAA reported. Nationally, a gallon of unleaded averaged $4.12 as of Monday.

Overall, gas prices are down from a record price of $4.38 a gallon in Florida on March 11. Diesel reached $5.17 that day as well in the Sunshine State.

Some states have taken steps to address high gas prices including California using surpluses to issue a $400 debit card to help offset some of the costs. Other states have suspended gas taxes and tried to attack the problem in other ways.

Florida has not taken action to help with gas prices yet, but a gas tax "holiday" is coming in October, one month before the mid-term elections.

The largest component of gas prices, crude oil, hovered around $100 a barrel in Monday trading. West Texas Intermediate Crude was selling for $96.69 a barrel while Brent Crude was selling for $101.20 a barrel as of press time.