Brevard Gas Prices Face Upward Pressure as Global Fuel Demand Rises, Crude Oil Prices Reach Multi-Year Highs

By  //  June 8, 2021

Share on Facebook Share on Twitter Share on LinkedIn Share on Delicious Digg This Stumble This

central florida gas prices average $2.78

Florida gas prices face upward pressure this week after optimism about rising global fuel demand sent crude oil prices to multi-year highs. (AAA image)

(AAA) – Florida gas prices face upward pressure this week after optimism about rising global fuel demand sent crude oil prices to multi-year highs.

The price of crude rose five percent last week. The price for US crude (WTI) settled at $69.62 per barrel on Friday, the highest daily settlement since October 2018. Gasoline futures also increased three percent.

“Rising crude oil and gasoline futures could drag retail gasoline prices higher this week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Based on the shift in wholesale gasoline prices, Florida’s state average may rise a minimum of 5-10 cents this week.”

Fuel prices are rising as optimism grows over the reopening of economies around the globe, and how that will promote stronger fuel demand. Meanwhile, market watchers are concerned that fuel supplies will not be able to keep pace.

Over the weekend, Florida gas prices averaged $2.85 per gallon. The state average is nearly 2 cents less than a week ago, and 3 cents less than this time last month.

Pump prices remain 6 cents less than the highest price – so far this year – of $2.91 per gallon, recorded in late March. Visit GasPrices.AAA.com to view daily average gas prices.

Regional Prices

■ Most expensive metro markets – Panama City ($3.05), West Palm Beach-Boca Raton ($2.99), Tallahassee ($2.99)
■ Least expensive metro markets – Punta Gorda ($2.75), Orlando ($2.78), Tampa-St. Petersburg, Clearwater ($2.79)

Find Florida Gas Prices

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

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.

AAA TRAVEL UPDATE: Momentum Gaining Across the World as Air Travel Increases, Cruise Lines Prepare to Set SailRelated Story:
AAA TRAVEL UPDATE: Momentum Gaining Across the World as Air Travel Increases, Cruise Lines Prepare to Set Sail

CLICK HERE FOR BREVARD COUNTY NEWS

Leave a Comment