Gas price update

Average retail gasoline prices in Florida have risen 5.4 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 increased 3.4 cents per gallon in the last week to $2.21/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Florida during the past week, prices yesterday were 8.0 cents per gallon lower than the same day one year ago and are 14.9 cents per gallon higher than a month ago. The national average has increased 7.4 cents per gallon during the last month and stands 28.0 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on August 29 in Florida have ranged widely over the last five years: $2.30/g in 2015, $3.36/g in 2014, $3.53/g in 2013, $3.77/g in 2012 and $3.56/g in 2011.

 

“As the summer driving season wraps up, gasoline prices have risen for 14 consecutive days, thanks in large part due to a late-summer rally in oil markets, driven by OPEC threats,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “While the final note may be a bit sour, the sweetness of what is still the cheapest summer gas in a decade will linger. Motorists shopping around for gas using the free GasBuddy app over the upcoming Labor Day weekend stand to save 5-25 cents per gallon over their counterparts, saving their hard-earned money on a day recognizing their hard work,” he said.

“While some tropical disturbances may lead gas prices to continue rising slightly ahead of Labor Day weekend, relief will be felt across every single state over the next few weeks as gasoline demand drops and cheaper winter gas begins flowing in mid-September.” DeHaan added.