AAA says gas prices are heading up again
The average gasoline price in Florida fell 24 cents since mid-August, but you should fill up soon if you want to take advantage of it.
Oil prices are climbing, and that’s going to cause the price of gas to head up again as well, travel club AAA said in its weekly gas price update on Monday.
Floridians were paying an average $3.60 for a gallon of unleaded regular on Monday, AAA data shows. That’s 23 cents below the national average and 8 cents less that a week ago. On Aug. 17, the average price in Florida was $3.85.
Gas prices fell over the past several weeks even as oil prices topped $80 a barrel, thanks to OPEC’s decision to extend production cuts and keep global oil supplies tightened, AAA reported.
In Monday morning trading, the price of U.S.-drilled crude oil hovered at $87.50 on the New York Mercantile Exchange — a 20% increase over the past two months.
But gas prices were slow to follow oil prices because refineries have been changing to a cheaper winter gas blend, which requires fewer additives.
“Unfortunately, the downward trend may end soon,” AAA spokesman Mark Jenkins said. “Futures prices have strengthened in the fuel market, which should reapply upward pressure on prices at the pump.”
After dropping 19 cents last week, gasoline futures regained about 6 cents a gallon — signaling that prices at the pump should soon follow.
Patrick De Haan, head of petroleum analysis for price-comparison website GasBuddy.com, on Monday noted a 1.6-cent increase in the national average price of gas following two straight weeks of declines.
In his blog, De Haan wrote that the spikes were caused by a 10-centa-gallon increase on the West Coast, a result of refinery snags, and a hike of more than 30 cents a gallon in Corn Belt states like Iowa and Minnesota.
But De Haan was more optimistic than Jenkins about prospects for lower prices in the near future, saying the changeover to winterblend gas should reduce the national average gasoline price “for most of the nation” in coming weeks, barring further refinery disruptions or impacts from hurricane season.
“Fall tends to bring falling gas prices, and I’m hoping this year won’t be any different,” De Haan said.
On Sunday, the average price in Florida for a gallon of gas was $3.61. That’s down 8 cents from last week and 24 cents from its highest price on Aug. 17 when gas was $3.85 per gallon.
West Palm Beach-Boca Raton ($3.79), Naples ($3.76) and Gainesville ($3.72) have the most expensive gas in the state.
Pensacola ($3.42), Crestview-Fort Walton Beach ($3.43) and Panama City ($3.49) have the cheapest.
Around Central Florida, according to GasBuddy, a 7-Eleven in Groveland and a Sam’s Club and BJ’s in Kissimmee were selling gas at $3.31 and $3.32 a gallon, respectively.
In Orlando, the lowest prices appeared to be $3.33 a gallon at the Speedway at 13306 S. Orange Blossom Trail, the RaceTrac at 13891 Lanstar Blvd., and Sam’s Club at 9498 S. Orange Blossom Trail.