23
June
2019
|
17:00 PM
America/Chicago

Pump Prices Likely to Rise This Week

Florida gas prices are the lowest since February

Florida gas prices are currently the lowest in four months, but that could change soon. Crude oil prices surged nearly $5 per barrel last week, which means higher gas prices are likely on the way.

Crude oil and gasoline futures prices rebounded last week due to:

  • Rising tensions between the U.S. and Iran following the downing of a U.S. drone on Thursday
  • A massive fire at a Philadelphia refinery - the largest refinery on the U.S. East Coast, which could require supplies to be redirected from other regions
  • Growing optimism over the possibility of the United States and China reaching an accord to end the ongoing trade dispute
  • A bullish inventory report from the EIA showing slight reductions to both crude supply and production

The price of U.S. crude settled at $57.43 per barrel on Friday, after sinking below $52 per barrel on Monday. The highest daily settlement for U.S. crude this year was $66.30 per barrel in April. The lowest was $46.54/b in January.

"Florida drivers could see gas prices rise 5-10 cents this week, due to both domestic and international issues that caused oil prices to spike," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "However, it's unclear just how long this upward pressure will stick around, and whether things will worsen or get better this week. Even if the state average rises above $2.50, drivers would still be paying 20 cents per gallon less than this time last year."

Florida drivers are paying an average price of $2.43 per gallon at the pump - the lowest daily average price since February. Sunday's state average is 7 cents less than last week, 19 cents less than last month, and 27 cents less than last year.

So far this year, the Florida state average sank as low as $2.12 per gallon in January, and reached a high of nearly $2.80 per gallon in April.

Regional Prices

  • Most expensive metro markets – Panama City ($2.58), West Palm Beach-Boca Raton ($2.54), Naples ($2.54)
  • Least expensive metro markets – Punta Gorda ($2.34), Jacksonville ($2.35), Orlando ($2.35)

Find Florida Gas Prices

AAA GAS PRICE AVERAGES
(Price per gallon of regular unleaded gasoline)

Sunday Saturday Week Ago Month Ago One Year Ago

2019 High
(YTD)

2018 High Record High
National $2.661 $2.663 $2.689 $2.845 $2.850 $2.895 $2.97 (5/26/2018) $4.11 (7/17/2008)
Florida $2.429 $2.433 $2.497 $2.624 $2.702 $2.795 $2.92 (5/25/2018) $4.08 (7/17/2008)
Georgia $2.446 $2.444 $2.466 $2.635 $2.707 $2.735 $2.84 (5/27/2018) $4.16 (9/15/2008)
Click here to view current gasoline price averages


Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

About The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9.9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 59 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. Visit AAA on the Internet at AAA.com.