Gas prices stop declining in Florida

After several weeks of steady, slow declines in gas prices — by a penny or two most weeks — the tables turned in the past week.

The average price of a gallon of gasoline in the Sunshine State increased by a penny in the past week, hitting $3.23 in the latest tally. That’s according to AAA — The Auto Club Group in its weekly report issued early Monday.

The good news is that upward movement was quite modest despite some strong increases in the prices of crude oil on the international market.

“Oil prices have surged in 2022, but pump prices have been pretty flat so far,” said Mark Jenkins, spokesman for AAA, in a news release. “It’s possible that the (seasonal) downturn in gasoline demand has helped pump prices resist the upward pressure from the oil market. However, if oil prices keep logging weekly gains, it’s only a matter of time before that results in higher prices at the pump.”

The U.S. price for crude oil has increased for five straight weeks, AAA reported. So far this year, crude oil has risen as much as 14%. Wednesday’s settlement of $86.96 per barrel is $2 per barrel more than the 2021 high, and it’s the highest daily settlement since October 2014.

Although the daily price of oil took a step back on Friday — settling at $85.14 — oil prices remain under heavy upward pressure due to ongoing global supply concerns, according to AAA.

AAA reported that the least expensive gasoline in Florida was found in the Crestview-Fort Walton Beach market, where it was selling for an average of $3.14 per gallon. Next was Pensacola at $3.15; Panama City at $3.16; Tallahassee and Brevard County at $3.18; Jacksonville at $3.19; Tampa at $3.20; and St. Petersburg, Orlando and Fort Myers at $3.21.

As usual for the past few months, the most expensive petrol was in the West Palm Beach-Boca Raton market, where it cost $3.41 per gallon. Next was Naples at $3.29; Fort Lauderdale at $3.27; and Miami and Sarasota at $3.24.