Gas price update

Gasoline prices in Florida have fallen 4.2 cents per gallon in the past week, averaging $2.85/g yesterday, according to GasBuddy’s daily survey of 8,237 stations in Florida. This compares with the national average that has fallen 1.9 cents per gallon versus last week to $2.94/g, according to GasBuddy.

Average gasoline prices on June 4 in Florida have ranged widely over the last five years: $2.36/g in 2017, $2.34/g in 2016, $2.70/g in 2015, $3.58/g in 2014 and $3.45/g in 2013.

Including the change locally during the past week, prices yesterday were 49.5 cents per gallon higher than a year ago and are 13.1 cents per gallon higher than a month ago. The national average has increased 13.4 cents per gallon during the last month and stands 57.8 cents per gallon higher than a year ago.

“Finally some moderation has hit tens of thousands of gas stations across the country, following the drop in oil prices in recent days,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “We may have dodged a bullet in avoiding the $3 per gallon level for now, but not everything is rosy yet. While nearly forty states saw average prices drop in the last week, ten still saw small increases, so this is not an all-inclusive party by any means. Prices remain well above their year ago level, costing the country $228 million more every day versus a year ago. Moving forward, all eyes remain on OPEC and their coming meeting to see if they’ll push oil prices higher, or if they’ll allow a respite for the summer driving season.”