Gas price update

Gasoline prices in Florida have fallen 2.6 cents per gallon in the past week, averaging $2.78/g yesterday, according to GasBuddy’s daily survey of 8,237 stations in Florida. This compares with the national average that has fallen 2.6 cents per gallon versus last week to $2.88/g, according to GasBuddy.
Average gasoline prices on October 15 in Florida have ranged widely over the last five years: $2.46/g in 2017, $2.24/g in 2016, $2.20/g in 2015, $3.20/g in 2014 and $3.27/g in 2013.
Including the change locally during the past week, prices yesterday were 31.5 cents per gallon higher than a year ago and are 5.2 cents per gallon higher than a month ago. The national average has increased 2.6 cents per gallon during the last month and stands 42.5 cents per gallon higher than a year ago.
“The last week has seen a flurry of events to keep an eye on, while the recent drop in oil prices materialized at pumps across the country, but nowhere have the declines been as large as Great Lakes states,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Great Lakes states have wreaked havoc on the national average, sending it down considerably as stations there have passed along the recent drop in oil prices relatively quickly. However, while Great Lakes motorists were seeing lower prices, average prices along the West Coast, mainly in Washington and Oregon, have started to jump after a natural gas pipeline explosion last week pushed some refineries to close. In addition, events in Saudi Arabia bear monitoring as the West claims the Kingdom is behind the disappearance of a Washington Post journalist and could rile tensions between the world’s largest oil consumer and one of the world’s largest oil producers. I believe gas prices in most areas East of the Rockies will drift lower, but keep an eye out on these new developments. I don’t know that I’ve ever seen autumn so rife with possible volatility at the pump as we’re seeing now.”