AAA: Florida Gas Prices Make Significant Jump, Reaches New 11-Month High
By AAA // January 26, 2021
oil prices are around $52 per barrel
(AAA) – Florida gas prices jumped another 10 cents last week, reaching an average price of $2.40 per gallon.
Sunday’s state average is up 20 cents from the start of the year, and the highest daily average price since February 2020.
Despite the recent hike, Florida drivers are paying 7 cents less than this time last year.
“Gas prices have been dragged higher by crude oil prices which remain at 11-month highs,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
“The gas price hike has likely hit its ceiling for now, as oil prices seemed to plateau last week. Despite optimism for the Covid-19 vaccine, crude prices slipped last week due to rising cases of coronavirus in two of the largest fuel consumers in the world: the United States and China.”
According to the Energy Information Administration, US crude supplies increased nearly 1-percent. At the same time, gasoline production jumped 18%, while gasoline demand rose almost 10%.
Through most of December, US crude oil traded for around $47 per barrel. Now oil prices are around $52 per barrel. The increased price of oil drives up the cost of producing gasoline.
■ Most expensive metro markets – West Palm Beach-Boca Raton ($2.51), Fort Lauderdale ($2.43), Port St. Lucie ($2.43)
■ Least expensive metro markets – Panama City ($2.32), Crestview-Fort Walton Beach ($2.33), Pensacola ($2.34)
Find Florida Gas Prices
AAA GAS PRICE AVERAGES
(Price per gallon of regular unleaded gasoline)
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 AAA – The Auto Club Group
The Auto Club Group (ACG) is the second-largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec, and two U.S. territories.
ACG and its affiliates provide members with roadside assistance, insurance products, banking, and financial services, travel offerings, and more.
ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety.
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