Gas price update

Average retail gasoline prices in Florida have fallen 6.6 cents per gallon in the past week, averaging $2.55/g yesterday, according to GasBuddy’s daily survey of 8,237 gas outlets in Florida. This compares with the national average that has fallen 5.4 cents per gallon in the last week to $2.51/g, according to gasoline price website

Including the change in gas prices in Florida during the past week, prices yesterday were 27.7 cents per gallon higher than the same day one year ago and are 2.2 cents per gallon higher than a month ago. The national average has decreased 2.5 cents per gallon during the last month and stands 23.4 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on February 19 in Florida have ranged widely over the last five years: $2.27/g in 2017, $1.74/g in 2016, $2.32/g in 2015, $3.40/g in 2014 and $3.82/g in 2013.

“For the second straight week, average gasoline prices fell, with nearly every state declining week-over-week as retail gas prices saw more catching up to the previous decline in crude oil prices,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “The trend may not be over just yet, but oil prices have rebounded from their lows and are again strengthening, which may cut the party at the pump short in the weeks ahead. Worth watching is U.S. shale oil production values which continue to increase, which may limit oil’s rally moving forward, but dead ahead on the calendar is still turnaround season at the nation’s refiners which promises at least some short-term pain for long-term gain.”