Monday, July 9, 2018

Gas prices remain at four-year high in Florida

Posted By on Mon, Jul 9, 2018 at 5:50 PM

Even as the cost of gas in Florida declined by a half-cent over the past week, prices at the pump are the highest in four years, according to AAA auto club.

"Reduced global oil supplies have caused summer travelers to pay a higher price at the pump this year," AAA spokesman Mark Jenkins said in a press release. "Fortunately, domestic gasoline production remains strong, which should help prevent major swings in summer gas prices.”

But Jenkins warned that prices could “pop” if refineries along the Gulf Coast are again threatened by a hurricane.

The statewide average of $2.76 for a gallon of regular gas – up nearly 50 cents from a year ago – is 20 cents below this year’s peak, reached during the Memorial Day weekend. As of Sunday, the national average for a gallon of regular gas was $2.87, according to the auto group.

In Florida, the highest average price is in the West Palm Beach-Boca Raton region, at $2.84 a gallon. The next highest, $2.83 per gallon, is in the Crestview-Fort Walton Beach area of the Panhandle, followed by $2.81 in Miami. Jacksonville and Punta Gorda, where a gallon sells for an average $2.66, both have the lowest prices in the state.

A tankful of gas now will cost about $6 more for the average vehicle than it did a year ago, according to AAA spokesman W.D. Williams.

“But, the economy is good and consumer confidence is strong right now, so people are continuing to travel,” he said.

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