Gas prices drop 10 cents per gallon in Florida. Here’s why

ORLANDO, Fla. – Gas prices in Florida are the lowest they have been in more than a month.

According to new numbers released by AAA, Florida’s average for regular is $4.06 per gallon, 10 cents lower than this time last week and 32 cents lower than 2022′s high of $4.38 per gallon.

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AAA says the downward trend is due to the recent decrease in oil prices and lower global demand due to COVID-19 outbreaks in China.

According to the latest AAA report, Florida’s gas prices are lower than the national average, currently $4.11 per gallon.

Meanwhile, President Joe Biden is visiting corn-rich Iowa on Tuesday to announce he’ll suspend a federal rule preventing the sale of higher ethanol blend gasoline this summer as his administration tries to tamp down prices at the pump.

Most gasoline sold in the U.S. is blended with 10% ethanol. The Environmental Protection Agency will issue an emergency waiver to allow widespread sale of 15% ethanol blend that is usually prohibited between June 1 and Sept. 15 because of concerns that it adds to smog in high temperatures.