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Monday, June 14, 2021

Florida gas prices rise to highest point in seven years

Posted By on Mon, Jun 14, 2021 at 11:37 AM

click to enlarge Florida gas prices near almost $3 per gallon, as global demand for crude oil surpasses supply. - VIA AAA
  • Via AAA
  • Florida gas prices near almost $3 per gallon, as global demand for crude oil surpasses supply.

Florida gas prices increased by 12 cents this past week, nearing now almost $3 per gallon.

The 12-cent increase, attributed to the globally rising demand for crude oil, has put Florida's gas price average at $2.97 per gallon, the most expensive price since 2014, according to a news releasefrom the American Automobile Association.



Orlando is among the least expensive metro areas to get gas with an average price of $2.94 per gallon, compared to Tallahassee, Panama City, West Palm Beach where the average price is more than $3.

Florida's gas is now 12 cents more expensive than a week ago and 44 cents more than this time in 2019, the agency said.

"It now costs $2 more to fill an average-sized 15-gallon gas tank, than it did a week ago," said Mark Jenkins, spokesman of AAA - The Auto Club Group. "Fortunately, futures prices flattened out last week, so drivers should not face another round of rising prices this week."

AAA expects gas prices to decline by the end of the year, as the supply rises to meet the recent increase in demand.

“U.S. and global oil producers are increasing their production, which should help moderate oil prices that have increased significantly as global economic concerns about the COVID-19 pandemic have begun to ease," said Stephen Nalley, deputy administrator of the U.S Energy Information Administration.


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