Florida gas prices hold as oil prices increase

Gas prices in Florida are again relatively low after fluctuating last week, according to AAA — The Auto Club Group.

The average Sunshine State pump price jumped 6 cents last week before sinking to $3.13 per gallon by the weekend.

On Monday morning, the Florida average per-pump price was $3.10 — just 1 cent higher than a week prior.

The lowest price this year was $2.99 per gallon on Jan. 22.

Mark Jenkins, spokesperson for AAA, said the slight rise and likely continued upward movement in price are due to increased crude oil prices. The U.S. price of crude rose by $3 last week — a more than 5% hike — settling at $71.92 per barrel on Friday. Gasoline futures rose 11 per gallon on the New York Mercantile Exchange.

“Crude oil and gasoline futures rose last week, cooling off the downward trend of prices at the pump,” he said in a statement. “The price gains are being attributed to optimism that the Federal Reserve’s interest rate cut would boost the global economy and energy demand.”

The most expensive Florida metro market for motorists is again the West Palm Beach-Boca Raton area, where gas Monday morning averaged $3.27 per gallon, followed by Naples ($3.19) and Gainesville ($3.18).

The cheapest gas, meanwhile, was in the Crestview-Fort Walton Beach area ($2.83), followed by Panama City ($2.86) and Pensacola ($2.86).