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Uncertainty over whether or not the Federal Reserve will lower rates of interest may quickly stall one other value hike.

Gas prices in Florida are falling barely after surging 15 cents to a brand new 2024 excessive of $3.46 per gallon on Friday, in line with AAA — The Auto Club Group.

By Sunday, the common value statewide was $3.43 per gallon.

As was the case last week, sturdy gasoline demand and a swap to costlier summer season gas contributed to the soar on the pump final week, AAA spokesperson Mark Jenkins mentioned in an announcement.

“Extreme climate and energy outages at main refinery crops throughout the U.S. have been additionally reportedly accountable,” he mentioned. “Nevertheless, gasoline and oil futures moved decrease late final week, reportedly as a result of uncertainty about whether or not the Federal Reserve would lower rates of interest later this yr. This might quickly trigger the fuel value hike to stall.”

Crude oil futures declined practically $2 per barrel final week, a 2% drop, whereas gasoline futures fell 9 cents.

The costliest metropolitan marketplace for Sunshine State motorists is the West Palm Seashore-Boca Raton space, the place the common value for a gallon of fuel is $3.60, adopted by Naples ($3.51) and Fort Lauderdale ($3.49).

Drivers and motorcyclists have the most effective offers for fuel in Panama Metropolis, the place the common per-gallon value is $3.14, adopted by the Crestview-Fort Walton Seashore space ($3.16) and Pensacola ($3.21).

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