Jesse Scheckner
Gas prices in Florida surged 18 cents in the average cost per gallon last week, although they now appear to be on the decline.
Motorists across the Sunshine State have paid more for gas for four consecutive weeks through Friday, when the price hit $3.84 per gallon —12 cents more than the previous yearly high in April.
By Sunday, pump prices averaged $3.83 per gallon. Just over a month earlier, on Independence Day, gas here was 57 cents cheaper per gallon.
Prices dropped another cent by Monday morning, according to AAA — The Auto Club Group, but still remained the highest since August 2022.
“These surging prices have been driven by a couple of factors,” AAA spokesperson Mark Jenkins said in a statement. “Extreme temperatures along the gulf coast (have) kept refineries from operating at full capacity. Globally, oil prices are significantly higher than a month ago, as OPEC production cuts cause global oil supplies to tighten.”
Oil prices determine roughly half the price per gallon of gasoline, AAA said, and tracking the rate at which oil barrels trade is a good way to determine whether fuel expenses will rise or fall in the near future.
On Friday, oil prices closed at about $82.81 per barrel, just 45 cents below this year’s high.
When gas prices were lower this time last month, crude oil traded at about $70 roughly a month after Saudi Arabia, the world’s largest oil producer and the most influential member of OPEC, declared plans to reduce production by another million barrels daily.
Several OPEC producers announced two months earlier a combined reduction of 1.66 million barrels per day until the end of the year, a move the Saudi Energy Ministry called a “precautionary measure” meant to stabilize the oil market.
Meanwhile, record heat in the south has hampered full-capacity production at fuel refineries, which already generate “incredible heat” while operating, AAA said. When outside temperatures exceed 100 degrees, refineries can suffer breakdowns and equipment failures.
Jenkins said some factors could alleviate upward pressure on fuel prices. Another “major wild card” could prompt another spike.
The U.S. Energy Information Administration reported improvements in refinery operations. Gas demand is expected to soon decline as the new school year commences. Still on the horizon, however, is the busiest time of the year for waterborne storms.
“Drivers should expect continued volatility at the pump during the coming months, particularly as we approach peak hurricane season,” Jenkins said.
“The majority of Florida’s gasoline is supplied by refineries along the Texas, Louisiana and Mississippi coastlines. Gas prices could spike just based on the mere threat of a hurricane making landfall in this region. How high gas prices go from there — and for how long — would then be based on whether those refineries suffered any long-term damage.”
The most expensive metro market in Florida for motorists remains the West Palm Beach-Boca Raton area, where drivers and motorcyclists are shelling out $3.96 per gallon of gas on average. Homosassa Springs ($3.91 per gallon) and Naples ($3.90) are the second- and third-priciest areas.
The cheapest gas is in the Crestview-Fort Walton Beach area, where pump prices averaged $3.58 per gallon, followed by Pensacola ($3.59) and Panama City ($3.62).
7 comments
Earl Pitts "The Ronald's UnOfficial Campaign Manager" American
August 7, 2023 at 10:39 am
Good mornting America,
Two Words:
Bidenomics Bidenflation.
Thank you America,
EPA
Earl Pitts is a Pedophile
August 7, 2023 at 10:46 am
Daily reminder that Earl Pitts is a child rapist.
He belongs in prison for what he did.
Lewd, Lascivious batt sex w/victim 12-15 years old; F.S. 800.04(4)(a)
Designation:Sexual Offender
Name: EARL W PITTS III
Status:Released – Subject to Registration
Dept of Corrections #:V38476
Date of Birth:09/18/1982
Race:White
Sex:Male
Hair:Brown
Eyes:Hazel
Height:6’00”
Weight:252 lbs
Impeach Biden
August 7, 2023 at 11:27 am
Since “Dementia” man took over fuel prices have been through the roof. Roughly $2.17 a gallon in Jan 2021 for regular fuel, before the incompetent one took over. Look at fuel prices since then. How’s that Bidennomics working for ya?
Dont Say FLA
August 7, 2023 at 11:50 am
Hey IBS, I love it! High prices at the pump help alleviate traffic by forcing the poors to say home. Extra bonus, the broke ass old cars driven by the poors aren’t breaking down all over the place when they’re parked at whatever the poors call home. But it’s just Florida that’s suffering high inflation and climbing gas prices. The 49 others states are a different story.
Florida’s economy, being almost 100% tourism, is going to closer match the swings of world economy. Poors in USA within a day’s drive will still go to Florida, but they camp and they bring their food with them. International visitors are still down due to the world still suffering much worse than Biden’s USA which is doing pretty well. So, while I will say Florida’s economy is uniquely poor within USA, I won’t place the blame squarely on Rhonda although he owns some of it with constant “othering” of people who now vacation in other places that are more hospitable at the top, because we all know about the GOP trickle-down model where those at the top do something, everybody else is supposed to it too. That never works with economics but always works with vile and putrid attacks on “others” like Rhonda keeps doing over and over.
Impeach Biden
August 7, 2023 at 12:38 pm
Ever since Biden has been president i’ve had sell more and more pictures of my feet just to pay the bills.
I mean, I enjoy doing that, so i’m not mad about it.
Let me know if you want to buy some pics of my feet.
martin
August 7, 2023 at 12:24 pm
Lets all just thank a democrat for this run-away inflation!
Dr. Franklin Waters
August 7, 2023 at 12:36 pm
It’s weird how the Democrats have made inflation so much worse all over the rest of the world though, isn’t it?
As bad as inflation has been, it’s been a lot better here in the US it is almost everywhere else on earth. The Democrats must be really powerful to make that happen. I wonder how Biden does it?
Comments are closed.