Trump’s pressure pays off as gas prices fall in Florida

Ervin Shkulaku/DUANEWS

Florida drivers are finally seeing some relief at the pump as gas prices fall sharply, just days after President Donald Trump increased pressure on European allies to take action to ease global fuel costs.

According to AAA, the average price for regular gasoline in Florida stood at about $4.08 per gallon on Sunday, October 4.

One week earlier, Florida drivers were paying nearly $4.37 per gallon.

That means the statewide average has fallen by almost 29 cents per gallon in just one week.

Diesel is also getting cheaper. Florida’s average diesel price fell from about $6.10 a gallon a week ago to approximately $5.85 on Sunday.

The decline comes as the United States and its allies move to increase available energy supplies.

G7 countries agreed Friday to coordinate the release of up to 100 million barrels of oil and fuel products from emergency reserves over the next four months. The agreement followed pressure from the Trump administration over high fuel prices and concerns about diesel supplies.

The plan is expected to put additional supplies into the market, including a substantial release of diesel during the first 20 days.

Trump had pressured European countries to release more fuel from their reserves and raised the possibility of restricting U.S. diesel exports. Following the G7 agreement, Trump said the United States would not impose a diesel export ban.

For Florida drivers, the big question now is whether prices will continue falling.

The additional supply could help put downward pressure on energy prices, but there is no guarantee that the decline will continue. Gas prices are influenced by crude oil prices, refinery conditions, demand and geopolitical events around the world.

And despite this week’s relief, gasoline remains expensive.

A year ago, Florida regular gasoline averaged about $3.05 per gallon. Today, drivers are still paying more than $1 per gallon above that level.

Still, the nearly 29-cent decline in just one week is welcome news for Florida households already dealing with higher costs for housing, insurance and everyday expenses.

If global oil prices continue to ease and the planned emergency supplies reach the market, Florida drivers could see additional relief at the pump in the weeks ahead.