Florida gas prices jump 10 cents

Gasoline prices in the state have returned to pre-coronavirus outbreak levels as the cost of the fuel has jumped about 10 cents in the past week, according to AAA Florida Auto Club data released Monday.

The average price for a gallon of gas across the Sunshine State hit $2.40 in the past seven days, up from $2.30 a week ago. Gas prices have continued upward since the beginning of 2021 and are now at levels that haven’t been seen since February, 2020.

Even with the recent hike, Floridians are still paying 7 cents less at the pump than they were this time last year. Optimism over the COVID-19 vaccine, which could lead to an economic recovery and global crude oil prices going up, are driving much of the ongoing increases.

The Energy Information Administration recently noted that demand for fuel has jumped 10% as crude oil prices have gone from $47 per barrel in December to $52 per barrel on global markets.

But AAA Florida spokesperson Mark Jenkins said gas prices may have leveled off for the near future.

“Gas prices have been dragged higher by crude oil prices which remain at 11-month highs,” Jenkins said. “The gas price hike has likely hit its ceiling for now, as oil prices seemed to plateau last week. Despite optimism for the COVID-19 vaccine, crude prices slipped last week due to rising cases of coronavirus in two of the largest fuel consumers in the world: the United States and China.”

The highest gas prices in the state in the past week were in West Palm Beach at $2.51. Fort Lauderdale was in second at $2.43 followed by Port St. Lucie at $2.43.

The Panhandle was home to the cheapest gas in the state at $2.32 per gallon on average in Panama City followed by Fort Walton Beach at $2.33 and Pensacola at $2.34.

Florida, for the first time this year, is now on par with national prices. Florida has been trending lower than the national average. Florida’s gas prices are on average now about 20 cents more than a month ago.