Florida gas prices spike again after large early April drop

After falling 25 cents per gallon in early April, the average price of a gallon of gasoline in Florida shot back up again last week, rising 10 cents by Friday before trending downward again.

Florida’s average pump price ticked down a penny per gallon from Friday through the weekend. That means on Monday, Florida drivers were paying an average of $4.10 per gallon, nine cents higher than the previous Monday, according to AAA — The Auto Club Group.

A week ago, the prices hit the lowest point since before Russia attacked Ukraine, unsettling global oil economics and sending the prices of both crude oil and refined gasoline skyrocketing, reaching a high of $4.38 per gallon in Florida in mid-March.

“The roller coaster ride at the pump continues,” said Mark Jenkins, spokesman, AAA — The Auto Club Group, in a news release issued Monday morning. “After rising two weeks ago, gas prices should remain tied to the price of oil, which was on its way back down last week.”

There was no clear cause reported for last week’s sudden jump in pump prices, as it did not correlate with world oil price activity.

“Based on wholesale and gasoline futures trends, gas prices could decline 5-10 cents, unless oil prices rebound again,” Jenkins said in the release.

AAA noted that according to the U.S. Energy Information Administration, the price of crude oil accounts for 55% of the price of gasoline.

Last week, the U.S. price of oil fell 4%. Friday’s closing price of $102.07 per barrel was $4.47 per barrel less than the week before, and $21.63 per barrel less than this year’s high — set in early March.

According to AAA, Florida’s best gasoline deal on Monday was found in Pensacola, where gas was averaging $3.91 per gallon. That was followed by the Crestview-Fort Walton Beach Market at $3.93; Panama City at $4.00; Tallahassee at $4.04; Fort Myers at $4.06; Jacksonville at $4.07; and Orlando at $4.08.

The most expensive gas in Florida, as usual, was recorded in the West Palm Beach-Boca Raton market, where it averaged $4.27 per gallon. That was followed by Fort Lauderdale, Gainesville and Naples at $4.15; Miami at $4.14; Sarasota at $4.12; and Tampa and St. Petersburg at $4.09.