Gas price update

Average retail gasoline prices in Florida have risen 3.6 cents per gallon in the past week, averaging $2.20/g yesterday, according to GasBuddy’s daily survey of 8,237 gas outlets in Florida. This compares with the national average that has increased 2.1 cents per gallon in the last week to $2.27/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Florida during the past week, prices yesterday were 9.6 cents per gallon higher than the same day one year ago and are 0.9 cents per gallon lower than a month ago. The national average has increased 1.4 cents per gallon during the last month and stands 11.7 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on July 24 in Florida have ranged widely over the last five years: $2.10/g in 2016, $2.59/g in 2015, $3.47/g in 2014, $3.62/g in 2013 and $3.41/g in 2012.

“Over the last week, gasoline prices have risen across a majority of the country, following the price of oil which has been rising as of late,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “OPEC’s meeting this week could steal the focus and propel markets higher or lower, depending on the outcome of the meeting, but for now, the most likely outcome would put pressure on oil prices to rise, especially if there’s talk of another oil production cut from the cartel. Unfortunately, motorists are likely to see gasoline prices continue to rise in more places than prices fall, but it’s not all bad news- gasoline prices nationally continue to hold somewhat near their summer lows, something that wasn’t at all expected earlier this year.”