Florida gas prices dip slightly in past week

Image via Drew Dixon.

After a big jump to start February, Florida gas prices have settled down and decreased by about 2 cents per gallon in the past week, according to AAA Florida Auto Club data released Monday.

Prices at the pump are averaging about $2.46 per gallon across the Sunshine State. That’s down from $2.48 the first week of February and a substantial change from the previous week when Floridians saw an 11-cent hike for the average gallon of gas.

“Drivers got a break from rising prices at the pump, last week,” said Mark Jenkins, spokesperson for Florida AAA. “Although there was a small decline, pump prices remain at a level that hasn’t been seen in more than a year.”

Generally, gas prices have been increasing in Florida since the beginning of the year when the average gallon of gas cost about $2.20. Optimism over the coronavirus vaccine and increasing prices for crude oil on the world market have accounted for much of that trend.

The average price for gas in Florida is more than 10-cents more than the cost a year ago when it was $2.34. Jenkins said the current trend could keep going higher.

“Unfortunately, the recent jump at the pump may not be over yet,” Jenkins said. “Pump prices could eventually reach $2.60 per gallon in the coming weeks, as refineries prepare to switch to summer blend gasoline. Summer gasoline typically costs more to produce, because it contains more additives, which work to reduce smog during the hotter months.”

Friday’s crude oil price was at $59.47 per barrel on the global market, which was $3 more than the week before. Oil producing countries in the Middle East are scaling back on production, which will lead to higher prices.

The most expensive gas in Florida could be found in West Palm Beach at $2.59 per gallon. Fort Lauderdale and Port St. Lucie were tied for the second most costly fuel at $2.51.

Punta Gorda recorded the least expensive gas in the state at $2.36 for the average gallon in the past week. Jacksonville and Panama City tied for the second-most affordable gas at $2.40.

Florida is still just below the national average for the price of a gallon of gas which is now $2.50.