Gas price update

Gasoline prices in Florida have fallen 0.8 cents per gallon in the past week, averaging $2.21/g yesterday, according to GasBuddy’s daily survey of 8,237 stations in Florida. This compares with the national average that is unchanged  versus last week to $2.25/g, according to GasBuddy.

Average gasoline prices on January 28 in Florida have ranged widely over the last five years: $2.54/g in 2018, $2.30/g in 2017, $1.83/g in 2016, $2.06/g in 2015 and $3.33/g in 2014.

Including the change locally during the past week, prices yesterday were 32.8 cents per gallon lower than a year ago and are 4.7 cents per gallon higher than a month ago. The national average has dropped 2.0 cents per gallon during the last month and stands 31.6 cents per gallon lower than a year ago.

“The national average saw limited upward movement in the last week, while the lowest price stations overall were the locations that saw prices tick higher. The percent of gas stations in the U.S. selling under $2 per gallon fell from 37% to 27% over the last week as oil prices hold above $53 per barrel. We’re also starting to see early refineries begin seasonal maintenance, which may aid prices moving higher in the weeks ahead,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Part of where gas prices go from here and how quickly depends on whether or not politicians can make a long-term budget agreement. Another prolonged shutdown will hurt the economy and likely keep gas prices more muted. In addition, watch for any progress of a broad trade deal with China. Even the sub-zero temperatures upcoming in many areas could play a role in gasoline prices, diesel prices and heating oil: it may keep Americans at home, using more heavy oils to heat their home.”