Energy costs rising

Spring upswing near, analysts say

The low gas prices of the past few weeks are coming to an end, according to analysts.

The lower gas prices we’ve been enjoying these past couple of weeks are just about over, analysts say.

Pump prices in Florida are poised for a rebound, thanks to the spring tourism season kicking into high gear, a bullish global oil market and lower gasoline refinery activity.

The average price in Florida for a gallon of unleaded regular dropped another 5 cents over the past week and was $2.52 on Monday. That’s 16 cents lower than the $2.68 reached on Feb. 8.

Whether the next run-up brings the price back to $2.68 or more remains to be seen, but analysts say a course reversal is imminent.

"Energy prices are rising again, which should signal the end for the steady slump at the pump," said Mark Jenkins, spokesman for travel club AAA.

Wholesale gasoline prices climbed last week as gulf coast refiners slowed production to begin their annual maintenance season and transition to warm weather fuel blends, Jenkins said.

“This will make it more expensive for retailers to purchase gasoline, and that added expense will eventually be passed along to the consumer. Based on movements in the market last week, the shortterm increase could amount to only a few cents, but motorists should expect a minimum total increase of 20-30 cents this spring."

Crude oil prices were continuing to rally on Monday. After closing at $63.55 on Friday — up from $59.20 on Feb. 9 — a barrel of West Texas Intermediate crude was hovering around $64 on the New York Mercantile Exchange shortly after noon.

Meanwhile in South Florida, prices remained higher than the statewide average, largely because of a higher cost of doing business here. In Broward County, the average price of $2.59 was 3 cents less than the previous week, while gas stations in Palm Beach County were charging an average of $2.66 — also 3 cents less than a week ago. In Miami-Dade County, Monday’s $2.61 average was 2 cents less than the previous week.

But motorists can find much better prices if they know where to look for clusters of price competition. According to the price comparison website GasBuddy.com, seven gas stations west of

Palm Beach State College in Lake Worth were priced at $2.33 a gallon on Monday. They included Shell and Sunoco stations at Lake Worth and Kirk roads, and a Wawa and Speedway at Lake Worth Road and South Congress Avenue.

In Broward, Margate motorists continued to benefit from the Feb. 2 opening of a new Wawa on State Road 7 and Copans Road and its decision to sell gas below normal market prices. No less than 12 stations in the area were offering gas below $2.40 on Monday. The Wawa and a Valero station across the street were selling at $2.33, as was a Marathon station just north of the intersection of State Road 7 and West Atlantic Boulevard and a Speedway south of the intersection.

A low-cost cluster in Miami-Dade has sprung up along Northwest 186th Street, east of Interstate 75 in Hialeah. Five stations were priced below $2.40 a gallon, including a Mobil and Chevron at Northwest 87th Avenue, a Speedway and Mobil at Northwest 75th Place, and a U-Gas at Northwest 67th Avenue.