Gas price update

Gasoline prices in Florida have fallen 5.0 cents per gallon in the past week, averaging $2.80/g yesterday, according to GasBuddy’s daily survey of 8,237 stations in Florida. This compares with the national average that has fallen 3.1 cents per gallon versus last week to $2.91/g, according to GasBuddy.

Average gasoline prices on June 11 in Florida have ranged widely over the last five years: $2.31/g in 2017, $2.33/g in 2016, $2.69/g in 2015, $3.55/g in 2014 and $3.46/g in 2013.

Including the change locally during the past week, prices yesterday were 48.3 cents per gallon higher than a year ago and are 1.1 cents per gallon lower than a month ago. The national average has increased 4.8 cents per gallon during the last month and stands 58.5 cents per gallon higher than a year ago.

“Gasoline prices continue to fade after peaking just ahead of Memorial Day, largely in part due to previous discussion that OPEC may lift output, pushing oil prices back down to the mid-$60s,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “As we’ve been expecting for months, gas prices will likely decline in the month of June as summer gasoline inventories continue to build and refiners continue to crank out fuels like gasoline and diesel. A solid majority of states saw average gas prices decline last week, and I expect we’ll hold that trajectory again this week.”