Gas price update

Average retail gasoline prices in Florida have risen 3.7 cents per gallon in the past week, averaging $2.24/g yesterday, according to GasBuddy’s daily survey of 8,237 gas outlets in Florida. This compares with the national average that has fallen 2.4 cents per gallon in the last week to $2.23/g, according to gasoline price website

Including the change in gas prices in Florida during the past week, prices yesterday were 6.1 cents per gallon higher than the same day one year ago and are 9.6 cents per gallon higher than a month ago. The national average has increased 3.0 cents per gallon during the last month and stands 3.4 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on October 17 in Florida have ranged widely over the last five years: $2.18/g in 2015, $3.17/g in 2014, $3.30/g in 2013, $3.69/g in 2012 and $3.41/g in 2011.

“October is a time we all expect gas prices to decline. Looking at the change in the U.S. average price for Octobers from 2015 to 2012, it’s dropped from Oct 1 to Oct. 31 by 12, 34, 11 and 26 cents respectively,” said Gregg Laskoski, senior petroleum analyst for GasBuddy.  “That’s an average decrease of 20 cents per gallon during the last four Octobers.”

“But this month has proven to be an exception with the national average still a few cents higher than where it was on Oct. 1 at $2.22.  While the price increase of crude oil has stalled the expected price decrease for retail gasoline, problems at major refineries in IN, TX, LA and CA have adversely impacted supply as well.  The most recent EIA report shows U.S. refinery output at just 85.5%, the lowest level since January 22, 2015,” Laskoski noted.

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