Florida Gas Prices

When you buy a gallon of gasoline at the pump, the cost components break down roughly in this manner: 58% of the cost comes from the purchase of crude oil, 15% comes from Federal, State, and local government taxes, 17% of the cost comes from refining the crude oil and lastly, the final 10% comes from distribution, marketing and profit mark-up.

Two strong factors affect the price of gasoline. The first factor is the cost of crude oil. OPEC members are currently the only countries that have “spare production capacity”. Frequently the price of crude oil follows whether or not they choose to cut back or increase their production levels. Seasonal demand (supply and demand) also influences costs. In the summer, as more people travel, the demand for gas goes up, and the price follows as supply is strained.

Within the United States, gas prices also fluctuate by region. Regionalized taxes, environmental programs requiring special additives or formulations, and distance from the source of supply all influence regional pricing.

Gas prices in Florida tend to be on the lower side of the national average. This has a lot to do with their proximity to sources of supply. The U.S. Gulf Coast is the source of around 40% of the gasoline produced in the United States and is the starting point for most major gasoline pipelines.

We get a lot of questions about how much gas costs currently where they are traveling too. If you are curious, please check out the above read out, the current price of gasoline is updated daily by region.