Gas prices in Florida eased after a spike ahead of the Memorial Day holiday weekend.
After the White House announced the latest potential deal intended to end the war with Iran, AAA reported a gallon of gas in Florida at $4.32 on Tuesday.
Florida’s average had jumped from $4.21 to $4.52 at the beginning of last week.
The price for a gallon of regular unleaded on Tuesday was $4.50 in Palm Beach County, $4.37 in Broward County, $4.37 in Miami-Dade County and $4.65 in Monroe County.
Over the weekend, President Donald Trump said negotiations with Iran were “proceeding in an orderly and constructive manner.” The deal would also reopen the Strait of Hormuz, which Iran controls and where 20 percent of global oil traverses.
This isn’t the first time the White House has said a deal is near to end the war the U.S. and Israel started on Feb. 28.
Patrick De Haan, head of petroleum analysis at GasBuddy, cautioned it will take time for prices to drop below $4, the price at which Florida has hovered since the end of March.
“Gas prices are currently falling but until we see an agreement signed & a significant amount of ships transit through the Strait, the national average price of gasoline will likely remain well above $4/gal,” De Haan posted on X. “Only once we start seeing confidence and ships move will prices plummet.”
The national per gallon average was $4.49 on Tuesday.
Averages in Florida on Tuesday ranged from $4.04 at the western end of the Panhandle in Escambia County to $4.65 in the Florida Keys. Jacksonville was topping $4.30 a gallon, while Tampa and Orlando were just under that mark.
Diesel in Florida was $5.34 a gallon, down 5 cents over the week.
For electric vehicles, the cost per kilowatt-hour at Florida charging stations stood at 41 cents on Monday, where it has been since April 26.