Gas Prices Are Surprisingly Going Down in This One State

Florida has seen a decrease in gas prices across the state, bucking a nationwide trend.

Florida citizens have seen a gas price drop of 20 cents in 9 days, according to a WESH report.

This fall in price comes after a spike to $4.378 per gallon on March 11. As of March 21, Florida residents are paying $4.167.

The national average gas price in America had risen sharply since Russia invaded Ukraine on February 24 and sparked debates regarding energy self-sufficiency.

The AAA reflected on this price drop and issued a press release on Sunday highlighting the potential reasons for it.

"The oil market remains extremely volatile, after seeing big swings in both directions during the past few weeks," Mark Jenkins, said in a statement.

"The oil market remains extremely volatile, after seeing big swings in both directions during the past few weeks."

"Last weekend, oil prices dropped on demand concerns regarding a COVID outbreak in China, which resulted in lockdowns.

"By the end of the week, oil prices charged higher again as global crude supply concerns, regarding the fallout from the Russia-Ukraine conflict, moved back to the forefront."

While gas prices in the state are still higher than they were in February, it has sparked hope that they could continue to fall. Jenkins added that these prices could fall as soon as this week.

"Fortunately, oil prices are well below the high we saw more than a week ago. This should enable gas prices to slip lower this week, unless oil suddenly spikes again," he said.

The national average gas price on March 8 was nearly 72 cents above the average price recorded in early February and about 55 cents above the average price recorded one week before, according to AAA data.

This resulted in the U.S. breaking the national record set nearly 14 years ago for the average cost of a gallon of regular unleaded gas.

A recent survey, released by Monmouth University last week, found that Republicans and Democrats look at the gas price fluctuations differently.

Some 61 percent of Republican voters said gas prices have caused a "great deal of financial hardship," compared to just 21 percent of Democrats and 31 percent of independents.

An additional 24 percent of Republicans added that gas prices have caused "some" financial difficulties, while 33 percent of both Democrats and independents agreed.

The latest survey was conducted from March 10 to 14 using a sample of 809 U.S. adults. The margin of sampling error is plus or minus 3.5 percentage points.

A separate poll from Monmouth University, published a day earlier, found that over 80 percent all voters are still in favor of banning Russian gas and oil in response to the country's invasion of Ukraine. Analysts and President Joe Biden have attributed the recent spike in prices to the ongoing war.