Florida gas prices jumped an average of 10 cents per gallon last week. Sunday’s state average of $3.46 per gallon is the highest daily average price since mid-May, according to AAA.
“Summer hasn’t officially begun, but the driving season is off to a roaring start,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Gasoline demand figures from the past few weeks have been stronger than what we saw during this same time last year. That has contributed to volatility at the gas pump, which is perfectly normal this time of year. The good news for drivers is that oil prices remain low. As long as that’s the case, the state average should remain below this year’s high of $3.72 per gallon.”
On Friday, the U.S. oil price settled at $70.17 per barrel.
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That’s 2% less than last week and $13.09/b less than this year’s high. Oil prices declined last week, despite efforts from OPEC to boost oil prices by extending production cuts that were set to expire this year, and in the case of Saudi Arabia, pledging to cut an additional 1 million barrels per day beginning in July.
National implied gasoline demand figures from the Energy Information Administration measures gasoline demand at more than 9.2 million barrels per day.
The weekly total is a little more than 1% over the same time last year.
Over the past four weeks, gasoline demand averaged 2% stronger than the same time last year.
Regional Prices
- Most expensive metro markets – West Palm Beach-Boca Raton ($3.62), Naples ($3.52), Port St. Lucie ($3.51)
- Least expensive metro markets – Crestview-Fort Walton Beach ($3.18), Pensacola ($3.22), Panama City ($3.22)
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