After rocketing higher for most of the month, AAA reported that October ended with gas prices in Florida holding steady.
Last month, Florida gas prices increased a total of 27 cents over the course of two weeks. However, prices at the pump finally plateaued throughout the past 12 days.
This week began with the average gallon of gas in Florida costing $3.31, the same as the start of last week and below the national average of $3.41 a gallon.
“Although oil prices remain elevated, they seem to have leveled off, which helped prevent any additional spikes at the pump last week,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “Drivers could see another week of stagnant gas prices, unless there are any big shifts in what has become an extremely tight crude oil market.”
On Friday, the price for US crude settled at $83.57 per barrel. That was 19 cents less than the week before, and the first weekly loss in 10 weeks. The price of crude increased a total of 12 percent in October, rising from $75.88 to a high of $84.65 early last week.
This was the most expensive October at the gas pump in eight years. The monthly average price for gasoline in Florida was $3.20 per gallon. That’s two cents more than the monthly average in October 2014. Previously, gas prices averaged $3.30 in October 2013, $3.65 in October 2012, and $3.41 in October 2011.
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 the Sebastian-Vero Beach area at $3.33 a gallon.
Punta Gorda had the least expensive gas in the state with an average of $3.24 a gallon, followed by Sebring at $3.25 a gallon and the Villages and the Melbourne-Titusville area at $3.27 a gallon.