The cost of gas in Florida increased last week, but by the weekend, it had stabilized. The state average on Sunday, at $3.31 per gallon, was one cent higher than the previous week.
The state average increased by 21 cents per gallon two weeks ago, then decreased by 5 cents last week before increasing by 8 cents.
The state average dropped an additional 5 cents per gallon by the middle of the week, when it hit a new high of $3.37. The peak price per gallon was $3.85 last year.
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“The recent increases are attributed to rising oil prices, as refineries conduct seasonal maintenance,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Florida’s gas prices are likely to face continued upward pressure through the next month as the presence of winter residents and spring breakers contributes to strong fuel demand.”
U.S. crude oil prices drifted lower by the end of last week. Friday’s closing price was $76.49 per barrel. That’s 3% lower than the previous week’s settlement of $79.19/b – which was the highest daily closing price so far this year. Last year’s highest daily settlement was $93.68/b.
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