How gas prices have changed in Panama City in the last week

Gas prices have gone up by about 4 cents per gallon since this time last month but are still down by nearly 50 cents compared to this time last year. The national average fuel price is about $3.17, with Tyler, Texas, seeing the cheapest metro-area prices at $2.60 and Salinas, California, with the most expensive at $5.11.

After issuing multiple pauses on tariffs against Canadian and Mexican imports since taking office, President Trump in early April announced a sweeping 10% baseline tariff on all imports to the U.S., with many countries facing even steeper duties, though oil and gas imports are exempted from new tariffs. On April 9, the White House announced a three-month pause on all "reciprocal" tariffs (except against China), but the baseline 10% tariffs will remain in place.

Jolted by the impact of the tariff announcement, the stock market plummeted on April 3, with U.S. oil prices dropping 7%. The double-whammy of lower prices and higher costs for crucial materials like steel pipes may have a major impact on domestic oil and gas production. Meanwhile, the Organization of the Petroleum Exporting Countries announced this month that it would increase production to help stabilize the market.

Expecting market volatility, GasBuddy analyst Patrick De Haan thinks it is possible that gas prices have already reached their peak in 2025, which typically happens around mid-April each year.

"After oil's sharp drop over the last couple of weeks—driven by concerns over the impact of U.S. tariffs and OPEC+ restoring production faster than expected—gasoline prices have posted a notable weekly decline, with nearly every state seeing prices fall," De Haan said in a recent statement. "While I do expect gas prices to continue trending lower, any abrupt change in the current tariff situation could eventually bring the decline to a halt."

Stacker compiled statistics on gas prices in Panama City, FL metro area using data from AAA. Gas prices are current as of April 24.

Panama City by the numbers
- Gas current price: $2.83
--- Florida average: $3.12
- Week change: -$0.01 (-0.5%)
- Year change: -$0.44 (-13.6%)
- Historical expensive gas price: $4.73 (6/12/22)

- Diesel current price: $3.32
- Week change: -$0.03 (-1.0%)
- Year change: -$0.43 (-11.4%)
- Historical expensive diesel price: $5.66 (6/23/22)

Metros with the most expensive gas
#1. Salinas, CA: $5.11
#2. Lihue (Kauai), HI: $5.10
#3. Napa, CA: $5.08

Metros with the least expensive gas
#1. Tyler, TX: $2.60
#2. Lawton, OK: $2.61
#3. Lubbock, TX: $2.61

This story features writing by Tim Bruns and is part of a series utilizing data automation across 371 metros.