Gas price update

Average retail gasoline prices in Florida have risen 3.7 cents per gallon in the past week, averaging $2.45/g yesterday, according to GasBuddy’s daily survey of 8,237 gas outlets in Florida. This compares with the national average that has increased 1 cent per gallon in the last week to $2.42/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Florida during the past week, prices yesterday were 37.9 cents per gallon higher than the same day one year ago and are 15.8 cents per gallon higher than a month ago. The national average has increased 13.0 cents per gallon during the last month and stands 28.0 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on April 24 in Florida have ranged widely over the last five years: $2.07/g in 2016, $2.55/g in 2015, $3.74/g in 2014, $3.45/g in 2013 and $3.86/g in 2012.

“Gasoline prices saw another weekly lift, yet have begun to slow their ascent in recent days,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “Since mid-February, average gasoline prices have risen 17 cents- a far cry from the 41 cent gain during the same time a year ago. While the annual spring spike remains subdued, prices do remain 28 cents higher than a year ago, though the gap has narrowed.”

“Overall, I would be surprised if we see the national average rise substantially more since the deadline for refiners to switch over to summer gasoline is nearly here. In addition, U.S. oil production numbers are up, keeping pressure on oil prices, while gasoline inventories remain very healthy. While we may see the national average rise to the low side of our previous predictions of $2.51-$2.83/gal for May, we’re unlikely to see anything higher, which is certainly good news for motorists,” DeHaan added.