Gas price update

Gasoline prices in Florida have risen 4.9 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 1.1 cents per gallon versus last week to $2.85/g, according to GasBuddy.

Average gasoline prices on August 13 in Florida have ranged widely over the last five years: $2.26/g in 2017, $2.07/g in 2016, $2.42/g in 2015, $3.35/g in 2014 and $3.50/g in 2013.

Including the change locally during the past week, prices yesterday were 53.4 cents per gallon higher than a year ago and are 0.7 cents per gallon higher than a month ago. The national average has dropped 3.6 cents per gallon during the last month and stands 50.3 cents per gallon higher than a year ago.

“Yet again, average gas prices have remained fairly quiet. This summer has been remarkably mum at pumps with most states seeing prices move in an uncharacteristically small summer range of 10-20 cents per gallon or less,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices continue to be range bound between $67 and around $73 per barrel as of late as competing factors weigh on oil prices at very similar times. Oil inventories have continued to decline, but gasoline inventories remain healthy, and with summer drawing to a close and gasoline demand set to step down, we may see additional relief coming barring any disruptions to the flow of oil or gasoline like a major hurricane.”