Gas prices jump 12 cents, highest spike in two months
Image via Drew Dixon.

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‘Oil and wholesale gasoline prices took a step back last week, which should cause gas prices to plateau.’

Gas prices rose 12 cents per gallon last week — the highest spike the Sunshine State has seen since Sept. 1 — before falling by 2 cents by the weekend.

Average costs at the pump in Florida increased from $3.46 per gallon last Monday to $3.58 Thursday, according to a report from AAA — The Auto Club Group.

By Friday, the average gas price slipped to $3.56, where it remained Monday morning. The average full, 15-gallon tank of gas now costs $53.40.

“It appears that Florida gas prices have now fully adjusted to the recent oil price hike and the reinstatement of the state’s gas tax,” AAA spokesperson Mark Jenkins said in a statement.

“Oil and wholesales gasoline prices took a step back last week, which should cause gas prices to plateau.”

Since the end of Florida’s one-month gas tax holiday on Nov. 1, Florida’s average gas price jumped by as much as 29 cents per gallon.

The state’s over-the-weekend average cost of $3.56 was still roughly 22 cents cheaper than the national average of $3.78 but still 39 cents pricier than in its neighbor state of Georgia.

Metro markets in Florida with the most expensive gas included West Palm Beach-Boca Raton ($3.70), Gainesville ($3.62) and Homosassa Springs ($3.60). The cheapest fuel could be found in Crestview-Fort Walton Beach ($3.27), Pensacola ($3.32) and Panama City ($3.33).

National oil prices dropped slightly in recent days due to a stronger U.S. dollar and after a surge in COVID-19 cases across several major cities in China, the world’s largest crude importer, slowed demand.

Futures for Brent, the leading global price benchmark for Atlantic basin crude oils, fell 1.07% to $94.96 a barrel Monday after rising 1.1% three days before. West Texas Intermediate crude futures fell 1.25% to $87.84 per barrel after closing Friday at 2.9% higher.

Those Friday rallies came after China’s National Health Commission shortened pandemic quarantine times for people potentially exposed to COVID-19 and inbound travelers. The NHC also eliminated penalties for airlines that fly in infected passengers.

But China’s COVID-19 positivity rate grew over the weekend, with cities like Beijing logging record infections. Consequently, the country’s demand for oil from top-producing Saudi Arabia remained weak.

Jesse Scheckner

Jesse Scheckner has covered South Florida with a focus on Miami-Dade County since 2012. His work has been recognized by the Hearst Foundation, Society of Professional Journalists, Florida Society of News Editors, Florida MMA Awards and Miami New Times. Email him at [email protected] and follow him on Twitter @JesseScheckner.


One comment

  • Elliott Offen

    November 14, 2022 at 11:16 am

    Rather pay $10 a loaf for bread and ride a horse to work than have a far right mad man in the presidency. The neo nazi cancer has just about eaten Florida. State should be declared a national security threat and banned from the USA until the neo nazis and shills for billionaires are eradicated.

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