Gas price update

Average retail gasoline prices in Florida have fallen 2.8 cents per gallon in the past week, averaging $2.22/g yesterday, according to GasBuddy’s daily survey of 8,237 gas outlets in Florida. This compares with the national average that has fallen 3.0 cents per gallon in the last week to $2.26/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Florida during the past week, prices yesterday were 44.4 cents per gallon lower than the same day one year ago and are 12.2 cents per gallon lower than a month ago. The national average has decreased 10.0 cents per gallon during the last month and stands 50.7 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on July 5 in Florida have ranged widely over the last five years: $2.66/g in 2015, $3.58/g in 2014, $3.41/g in 2013, $3.17/g in 2012 and $3.49/g in 2011.

“Yesterday’s gas prices ended just as GasBuddy predicted a week ago: $2.27 per gallon nationally,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “While prices have come down, we now head to the time of year when hurricane season enters the picture. In the last couple of years we have seen minimal to no disruption as hurricane season largely went by with no major storms that hit land. Should we see a major hurricane enter the Gulf, gas prices may react. For the week ahead, expect much of the country to see prices continue to trickle lower while the Great Lakes states may see their first price increase in weeks as stations have undercut each other to the point where they begin losing money,” DeHaan said.

“Any way you slice it, this summer has featured the cheapest Memorial Day, July 4 and perhaps Labor Day in the last eleven years, and motorists have been responding by hitting the roads in record numbers, according to a GasBuddy study before the summer driving season began,” DeHaan noted.