AAA: Gas Prices Sharply Increased in Florida as Crude Oil Prices Rise

AAA released a report showing gas prices in Florida raised by 10 cents over the past week.

On Sunday, the average gallon of gas in Florida cost $3.10, the highest it has been in 2021. At the start of last week, the average gallon of gas in Florida cost $3.00.

At the national level, the average gallon of gas cost $3.19 on Sunday, rising up a cent from the start of last week.

“Pump prices increased alongside rising crude oil and gasoline futures prices. The price of crude increased 4 percent last week on reports that Gulf of Mexico energy infrastructure is still recovering from Hurricane Ida,” AAA noted. “Most of the onshore oil refineries – that went offline because of the storm – have reportedly already or are in the process of restarting. However, weekly EIA data showed that offshore oil production remained low. Weekly figures from the EIA show US crude production dropped 13 percent, to hit a 2-year low of 10,000 barrels per day. That figure improved 1 percent to 10,100 last week. Before the storm, crude production levels reached 11,500 bpd.”

“The rollercoaster ride at the pump continues for Florida drivers,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “Where pump prices go from here is unclear. Hurricane Ida’s impact in the Gulf Coast has lingered on, causing lower fuel supplies and upward pressure on prices. Fortunately, there is some downward pressure in the market, because the summer driving season has ended, leading to less fuel demand. In addition to that, winter gasoline is beginning to move back into the market. Both of these should help ease the strain on supplies.”

West Palm Beach had the most expensive gas in the state with an average of $3.23 a gallon followed by Fort Lauderdale at $3.13 a gallon and Port St. Lucie at $3.12 a gallon.

Pensacola had the least expensive gas in the state with an average of $3.04 a gallon followed by the Crestview-Fort Walton Beach area at $3.05 a gallon and Punta Gorda at $3.06 a gallon.

Share this article on:

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here