Florida gas prices highest since summer 2019
Gasoline prices continue to grow more expensive as February proved to be the priciest month at Florida pumps since July 2019.
Florida gas prices over the month climbed an average of 24 cents per gallon, with the average at $2.61, according to a AAA report.
Since Jan. 1, the state average has increased by 41 cents.
Nationally, the most expensive prices are in California with an average of $3.69 a gallon.
Orlando price averages were among the lowest in the state, but even the City Beautiful experienced a price jump of 21 cents per gallon compared with the start of the month, averaging about $2.57 per gallon. However, prices did fall about 2 cents compared with last week.
“Last month’s jump at the pump was largely driven by refinery issues - caused by Arctic weather in Texas,” said Mark Jenkins, a spokesman, AAA. “Other factors were tightening global fuel supplies and continued optimism that the COVID-19 vaccine and stimulus money would help boost fuel demand. Drivers should expect continued volatility at the pump in the coming months as refineries enter maintenance season and prepare to switch to summer gasoline.”
Florida’s most expensive gas could be found in West Palm and Boca Raton gas pumps at $2.74 per gallon. The least expensive was found in Punta Gorda at $2.53.
The record price for gas in the state dates back to 2008 when an average gallon cost $4.08.
OMAHA, Neb. — Billionaire Warren Buffett encouraged investors to maintain their faith in America’s economy and the businesses his Berkshire Hathaway conglomerate owns in a letter to his shareholders.
Buffett hardly even addressed the coronavirus pandemic that ravaged many businesses last year, instead focusing on the longterm prospects for the railroad, utility and insurance businesses and stocks that belong to Berkshire Hathaway. But he said U.S. business will thrive over time in spite of the pandemic.
“In its brief 232 years of existence, however, there has been no incubator for unleashing human potential like America. Despite some severe interruptions, our country’s economic progress has been breathtaking,” Buffett wrote in the letter released over the weekend.
Buffett’s annual letter is always well read in the business world because of his remarkably successful track record and his knack for explaining complicated subjects in simple terms.
But he didn’t offer much explanation for why Berkshire hasn’t made a major acquisition in several years or discuss the company’s recent major new investments in Verizon Communications and Chevron, leaving many investors wanting more.
“The one thing that caught my eye about the letter was sort of what it didn’t have,” CFRA Research analyst Cathy Seifert said. “I think what was notable was the fact that given everything that’s gone on in this country from the pandemic to all the social unrest to the social inflation and climate change that’s impacting the insurance industry. It was striking to me that none of that was mentioned in the letter.”
Buffett, a longtime Democrat, largely avoided politics in the letter, but he did express faith in the future of the country.
“We retain our constitutional aspiration of becoming ‘a more perfect union.’ Progress on that front has been slow, uneven and often discouraging. We have, however, moved forward and will continue to do so. Our unwavering conclusion:
Never bet against America,” he said.
Buffett said one of his biggest investments last year was the $25 billion repurchase of Berkshire’s own shares. But even after that and several multibillion-dollar stock market investments in the second half of last year, Berkshire still held $138.3 billion cash at the end of 2020. Edward Jones analyst Jim Shanahan said it’s significant that Buffett is investing that much in his own stock.
In addition to the letter, Berkshire said its fourth-quarter profits grew 23% to $35.8 billion, or $23,015 per Class A share, even though the pandemic continued to weigh on most of its businesses, which include BNSF railroad, several major utilities, Geico insurance and an assortment of manufacturers and retailers. Most of the gain over last year’s $29.2 billion, or $17,909 per A share, was related to paper gains on the value of its investments.
Besides the business lessons Buffett offered in his missive, the 90-year-old investor reassured his stockholders that he has no plans to retire.