AAA released a report on gas prices in Florida which showed the price of the average gallon of gas in the Sunshine State rose 13 cents in the past week.
As of the start of the week, the state average now sits at $3.31 per gallon. That’s a new 2021 high and the most expensive daily average price since October 2014. Florida remains below the national average which stood at $3.39 a gallon on Sunday.
Florida pump prices have climbed a total of 26 cents this month. So far this year, the state average has increased a total of $1.12 per gallon since January 1. Florida drivers are now paying $1.23 per gallon more than this time last year, and 89 cents more than this time in 2019.
“Gas prices have been dragged higher by skyrocketing crude oil prices,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “Crude oil prices have faced tremendous upward pressure, because global fuel demand is outpacing global production and supply levels. Although oil prices increased again last week, it was by a smaller margin than the weeks before. Fortunately, gasoline futures held steady. So even if gas prices increase again this week, it shouldn’t be as significant of a jump as what drivers have experienced so far this month.”
The price of U.S. (WTI) crude oil has climbed 76 percent this year; going from $47 per barrel in January to nearly $84/b last week. In October alone, oil prices have jumped 10 percent; rising from $75.88 to $83.76 per barrel. Friday’s closing price of $83.76/b is $1.48/b more than the week before.
The West Palm Beach-Boca Raton area had the most expensive gas in the state with an average of $3.46 a gallon followed by Fort Lauderdale at $3.35 a gallon and Port St. Lucie at $3.34 a gallon.
Pensacola had the least expensive gas in the state at $3.24 a gallon, followed by Jacksonville and Panama City at $3.28 a gallon and Punta Gorda at $3.29 a gallon.