Gas prices across Florida have dropped sharply in recent days, offering drivers some relief after months of steep increases tied to the ongoing U.S.-Israel military conflict with Iran.
The price of crude oil has largely declined over the past two weeks, falling from $108.66 per barrel down to $87.36 on Friday. The drop has translated to meaningful savings at the pump statewide, with prices falling nearly 50 cents in under two weeks, according to AAA data tracked by WTSP.
The decline follows a prolonged surge that began when military operations against Iran started. Florida gas prices stood at a $2.89 average on Feb. 28, when the U.S. and Israel began military operations against Iran. At its peak, AAA put the average price in Florida at $4.34 per gallon — the highest average since mid-2022.
The conflict disrupted global oil markets largely due to its effect on a critical shipping route. The Strait of Hormuz, a narrow waterway in the Middle East that handles roughly 20% of the world’s oil, saw traffic come to a complete stop due to safety concerns, limiting global oil supply.
Analysts say continued volatility remains possible. Patrick De Haan, head of petroleum analysis at GasBuddy, has pointed to tightening supplies due to regional refinery issues and to global oil markets moving higher amid concerns about prolonged disruptions in key shipping lanes as factors that could drive further swings.
AAA provides updated regional averages daily at aaa.com.
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