Gas price update

Average retail gasoline prices in Florida have not moved  in the past week, averaging $2.40/g yesterday, according to GasBuddy’s daily survey of 8,237 gas outlets in Florida. This compares with the national average that has increased 6.5 cents per gallon in the last week to $2.53/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Florida during the past week, prices yesterday were 21.0 cents per gallon higher than the same day one year ago and are 14.7 cents per gallon lower than a month ago. The national average has increased 3.8 cents per gallon during the last month and stands 32.0 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on November 6 in Florida have ranged widely over the last five years: $2.19/g in 2016, $2.13/g in 2015, $2.92/g in 2014, $3.21/g in 2013 and $3.40/g in 2012.

“It’s been a frenzied week at fuel pumps across the country, but without a hurricane driving up prices, many motorists have been dumbfounded about what’s taking place with the unseasonable upward trend,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Such a strong weekly upward move is rare in the fall, but is explained by a confluence of factors, including oil prices hitting a new 2017 high, a major pipeline leak resulting in disruption, autumn refinery maintenance, but perhaps among the more surprising- robust demand for gasoline so late in the season. Such demand has magnified relatively mundane factors into a major gas price event for much of the United States and Canada. But some slowdown is expected in the Great Lakes, the region hardest hit with price spikes in the last week, as repairs Explorer Pipeline have been completed, but some additional bumps in the road ahead can be expected for motorists elsewhere.”