Gas prices fell 6 cents in Florida last week. Why they may rise again

OPEC cut oil production again

File - Fuel is pumped into a vehicle at a gas station in Mundelein, Ill., Tuesday, Feb. 14, 2023. (AP Photo/Nam Y. Huh, File) (Nam Y. Huh, Copyright 2023 The Associated Press. All rights reserved.)

ORLANDO, Fla. – Gas prices have trickled down over the past few weeks, but AAA said they may climb again soon, depending on how the markets react to news from OPEC.

The oil consortium agreed to cut oil production this weekend by a million barrels a day, with the hope that it will send oil prices higher.

It’s the latest round of cuts from OPEC in the last few months. Last year OPEC cut oil production by 2 million barrels a day, then in April it cut production by an additional 1.16 million barrels a day.

”It’s unclear how much of an effect this will have on fuel prices, but if oil prices rise significantly, drivers would likely see higher prices at the pump,” AAA spokesman Mark Jenkins said.

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In Orlando, average gas prices for a gallon of regular unleaded gas fell 8 cents from a week ago, to $3.30 a gallon.

In Florida, average prices for the same gallon of gas fell from $3.41 a gallon to $3.36 over the past week. Gas prices in Florida were $3.59 a month ago and $4.76 a year ago.

Here are the average gas prices for regular unleaded in Central Florida’s metro areas:

  • Daytona Beach: $3.34 a gallon, down from $3.40 a week ago
  • Lakeland-Winter Haven: $3.31 a gallon, down from $3.40 a week ago
  • Melbourne-Titusville: $3.30 a gallon, down from $3.37 a week ago
  • Ocala: $3.30 a gallon, down from $3.37 a week ago
  • The Villages: $3.33 a gallon, down from $3.37 a week ago

Full gas price information for locations across Florida and the country is available on the AAA website.

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Christie joined the ClickOrlando team in November 2021.