Rising Oil Prices in January Led to Most Expensive Month at Pump Since Start of the Pandemic

By  //  February 2, 2021

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price of U.S. crude oil settled at $52.20 per barrel

Rising oil prices in January led to the most expensive month at the pump since the start of the pandemic. Gas prices for the month of January 2021 averaged $2.32 per gallon. (AAA image)

(AAA) – Florida gas prices trickled lower last week. The state average dropped 2 cents per gallon.

Florida drivers are now paying an average price of $2.38. That’s almost 2 cents less than the price this time last year.

Rising oil prices in January led to the most expensive month at the pump since the start of the pandemic. Gas prices for the month of January 2021 averaged $2.32 per gallon.

That’s the highest monthly average since February 2020, when the monthly average was $2.38. Last month’s average price was nearly 20 cents less than what drivers paid in January 2020 ($2.49).

“Drivers got a break from rising prices at the pump, last week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.

“Oil prices have lost upward momentum, due to lingering concerns about how rising cases of coronavirus will hamper global fuel demand. Gas prices should hold steady or even slip a little lower this week, unless oil prices rise again.”

The price of U.S. crude oil settled at $52.20 per barrel, last week. Friday’s closing price was 7 cents less than the week before, and a dollar less than this year’s high of $53.57/b. Either way, crude oil prices remain near 11-month highs.

Regional Prices

■ Most expensive metro markets – West Palm Beach-Boca Raton ($2.50), Fort Lauderdale ($2.41), Port St. Lucie ($2.41)
Least expensive metro markets – Punta Gorda ($2.28), Panama City ($2.33), Jacksonville ($2.33)

Find Florida Gas Prices

■ Daily gas price averages can be found at Gasprices.aaa.com
■ State and metro averages can be found here.

For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.

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