Gas Prices Slowly Begin to Rise in Florida as Coronavirus Restrictions Eased

Gas prices are slowly beginning to rise in the Sunshine State as more Floridians are driving as coronavirus restrictions are being eased.

According to a new study from AAA, for the first time in 10 weeks, gas prices in Florida went up over the past week. On Sunday, the average gallon of gas in Florida cost $1.77, up a penny from the week before. That’s below the national average of $1.87 a gallon, up from $1.84 at the start of last week.

“Small increases at the pump will become a more common sight in the coming weeks, as Floridians hit the road to visit businesses and beaches,” said Mark Jenkins, a spokesman for AAA and the Auto Club Group. “The increased demand has cut into excess supplies which restores upward pressure on prices at the pump.”

“According to the EIA, US gasoline demand has climbed 40 percent in the past five weeks. Although US gasoline production increased (11 percent) last week, supplies declined (4 percent) during the past three weeks,” AAA noted on Sunday. “Growing fuel demand has restored optimism in the crude oil market. The price for US oil hit a 9-week high Friday – settling at $29.43 per barrel. Friday’s closing price was nearly 20 percent higher than the week before. Wholesale gasoline prices also jumped 6 cents per gallon during the past week.”

The West Palm Beach-Boca Raton area had the most expensive gas in the state at $1.93 a gallon followed by Gainesville at $1.92 a gallon and Fort Lauderdale at $1.87 a gallon.

Jacksonville and Pensacola had the least expensive gas in the state at $1.70 a gallon followed by Punta Gorda at $1.71 a gallon.

 

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