Florida Gas Prices Hold Steady

AAA: FLORIDA GAS PRICES BREAK EVEN ON THE WEEK 

TAMPA, FL — Florida gas prices continued yoyo up and down. The state average went from $3.11 per gallon down to $3.06 mid-week, only to bounce right back up to $3.11/g by Sunday. 

“Fuel prices have cycled within the same range for the past couple months, but a recent oil price hike threatens to bring upward pressure on prices at the pump,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Oil prices rose to multi-month highs on winter weather woes and U.S. sanctions on Russian petroleum. This could place upward pressure on prices at the pump.”

The U.S. price for crude increased $3 per barrel (4%) last week. Friday’s closing price of $76.57 per barrel is the highest daily settlement since early October. The U.S. placed sanctions on Russian oil producers and 183 ships which reportedly carry that oil to China and India. The sanctions are reportedly an attempt to cut off funding for Moscow’s war against Ukraine. This will reportedly leave China and India to seek more supply from the Middle East, Africa, and the Americas. 

As the oil market debates how these sanctions will affect global supplies, there are concerns about a prolonged stretch of below-average temperatures. OPIS reports that rare winter storms in Texas and the South should sharply boost demand for distillate/heating oil. 

Visit GasPrices.AAA.com to view state and local average gas prices

Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

About AAA – The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 U.S. states and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 64 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow on Facebook, Twitter and LinkedIn.