Gas price update

Average retail gasoline prices in Florida have risen 5.8 cents per gallon in the past week, averaging $2.36/g yesterday, according to GasBuddy’s daily survey of 8,237 gas outlets in Florida. This compares with the national average that has increased 0.9 cents per gallon in the last week to $2.37/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Florida during the past week, prices yesterday were 1.7 cents per gallon higher than the same day one year ago and are 1.1 cents per gallon lower than a month ago. The national average has increased 1.9 cents per gallon during the last month and stands 0.5 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on June 5 in Florida have ranged widely over the last five years: $2.34/g in 2016, $2.70/g in 2015, $3.58/g in 2014, $3.44/g in 2013 and $3.40/g in 2012.

“The first week of the summer driving season is now under our belts, and we saw little change in gas prices nationally,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “Prices have seen little change and as we continue to progress into the summer, we’re seeing gas prices now roughly the same as a year ago in many places. Oil markets failed to be convinced last week by OPEC’s production cuts as U.S. oil production rises to its highest level since summer 2015. This has kept the price of oil constrained and keeps the door propped open for gasoline prices to remain at historically low levels as millions of Americans take to the road.”