Gas price update

Average retail gasoline prices in Florida have risen 4.2 cents per gallon in the past week, averaging $2.70/g yesterday, according to GasBuddy’s daily survey of 8,237 gas outlets in Florida. This compares with the national average that has increased 1.8 cents per gallon in the last week to $2.65/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Florida during the past week, prices yesterday were 52.7 cents per gallon higher than the same day one year ago and are 43.1 cents per gallon higher than a month ago. The national average has increased 30.4 cents per gallon during the last month and stands 48.1 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on September 11 in Florida have ranged widely over the last five years: $2.17/g in 2016, $2.22/g in 2015, $3.33/g in 2014, $3.50/g in 2013 and $3.78/g in 2012.

“Harvey may be long gone, but his wrath continued to drive gasoline prices up in much of the country in the last week. However, the effects are finally starting to weaken as refineries return to production and fuel begins to flow once again from many Houston refineries,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “The national average gasoline price appears to have peaked last week Thursday at $2.67 per gallon and is beginning to slowly decline for the time being. Once again, motorists shouldn’t expect to see any impact from Irma on gasoline prices due to the path being a considerable distance from sensitive areas of the energy sector. With summer driving season now over, motorists stand to benefit from falling demand, which will help refineries bring gasoline inventories back to normal and thus gas prices, but as many Americans are now acutely aware, the impact on gas prices can outlive a storm, especially one like Harvey.”

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