AAA: Price For Gallon of Unleaded Gas Jumps 51 Cents In Florida Year-Over-Year

average cost for a full tank of gas was $34

BREVARD COUNTY, FLORIDA (AAA) — Motorists paid the highest gas prices for the month of February in three years. The monthly average for a gallon of regular unleaded was $2.28 nationally and $2.28 in Florida.

Compared to February 2016, these averages were an increase of 55 cents in the U.S. and 51 cents in Florida. The average cost for a full tank of gas was $34 – $8 more than February 2016.

Gas Prices on the Move

Although previous years saw significant price swings during the month of February, pump prices this year remained relatively stable. In total, average prices declined 3 cents in Florida and increased 1-cent nationwide. In years prior, February gas prices fell 5 cents in 2016, but rose 34 cents in 2015 and 17 cents in 2014.

“February usually signals the start of a seasonal upswing in gas prices, but that did not happen this year,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.

“Oil prices held steady between $52 and $54, which kept a lid on gas prices. However, the final day of February delivered a slightly higher pump price, which could be a hint of things to come.

“Gas prices usually follow an upward trend from February to Memorial Day,” Jenkins continued. “In the past five years, prices rose between 35-75 cents during that four month period. This happens because refineries enter maintenance season, causing them to produce less gasoline at a time when demand is on the rise. If oil prices remain steady, pump prices would likely stay in the low end of the historical range.”

Gas Prices Usually Rise in March

In March 2016, average prices rose a total of 30 cents in the U.S. and 32 cents in Florida. During this time, the price for a barrel of WTI crude oil climbed $7 – which would normally signal a shift of only 18 cents at the pump, but supply & demand fundamentals pushed prices even higher.

The 2016 price hike was the highest for the month of March in more than a decade. Before that, intramonthly prices did not rise more than 25 cents. The 5-year average for price increases during the month of March is 9 cents in the U.S. and 11 cents in Florida.

CURRENT AND PAST PRICE AVERAGES: Regular Unleaded Gasoline

Click here to view current gasoline price averages

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, travel, insurance and financial services offerings to over 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 56 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.

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