Gas Prices Dip to Lowest Level Since January

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The average price of a gallon of regular unleaded gasoline in Florida was $3.38 on Monday, the lowest price since January, according to the AAA auto club. The average price was down from $3.41 a week earlier and $3.61 a month earlier.

Florida hit a record high of $4.89 a gallon on June 13, but prices steadily decreased through the summer.

AAA spokesman Mark Jenkins said Hurricane Ian is unlikely to cause price hikes because refineries in Louisiana, Mississippi and Texas will not be affected.

“There’s actually downward pressure on pump prices, despite the forecast that a hurricane would approach Florida this week,” Jenkins said in a prepared statement. “Gasoline and oil futures prices plunged 7 percent last week, to eight-month lows on concerns that aggressive interest rate hikes by the U.S. Federal Reserve could trigger an economic recession.”

The most-expensive gas in Florida is in the West Palm Beach, Tallahassee and Gainesville markets, while the least-expensive gas is in the Pensacola, Fort Walton Beach and Panama City markets, according to AAA.