Connect with us

Hi, what are you looking for?

Business / Economy News

Florida Gas Prices Jump 12 Cents; Set New 2024 High

AAA Auto Club states that Florida gas price averages reached a higher for 2024. Read their official statement below.

Florida gas prices jumped again last week, reacting to gains in the futures market in the week before. In full, the state average rose 12 cents per gallon, reaching a new 2024 high of $3.62/g. 

Despite the recent increase, pump prices are following a similar trend to what drivers saw last spring. Sunday’s state average of $3.59/g is 11 cents more than what drivers paid this time last year. However, the current price is below last year’s springtime high of $3.72 – which was recorded on April 21. 

Factors contributing to upward pressure in the fuel market:

  • Gasoline demand strengthens in the spring as temperatures rise and Americans travel for spring break.
  • Refineries are conducting seasonal maintenance, which can affect gasoline production and/or supplies.
  • Summer gasoline is moving into the market, which is more expensive to produce.
  • The global oil supply market is tight. Although the United States is producing oil at record levels again, OPEC+ extended production cuts to lower global supplies and prop-up oil prices.
  • Geopolitical tensions fuel global demand concerns, after recent Ukraine drone attacks on Russian oil refineries.

“Fuel prices made modest gains in the futures market last week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Analysts believe OPEC and its allies will not lift production cuts before June, even as seasonal fuel demand is projected to grow.”

The U.S. price of crude finished the week 3% stronger than the week before. However, Friday’s closing price of $83.17 per barrel is 30 cents less than the 2024 high, recorded a week earlier. Meanwhile, gasoline futures also finished the week in line with the prior week. 

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

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.77), Naples ($3.69), Port St. Lucie ($3.65)
  • Least expensive metro markets – Panama City ($3.22), Crestview-Fort Walton ($3.23), Pensacola ($3.27)

Archives

Related Articles

Florida News

A report from AAA Auto Club showed Florida gas prices at $3.17 per gallon per on average. That’s 10 cents more than a week...

Business / Economy News

The AAA Auto Club Group is reporting a return to normalcy for gasoline supplies and prices after a chaotic month that included two hurricanes...

Business / Economy News

Florida gas prices are holding steady as the fuel supply chain recovers from the effects of Hurricane Milton. Sunday’s state average was $3.10 per gallon....

Business / Economy News

Drivers across the Sunshine State are seeing a welcome site at the gas pumps. On Sunday, Florida’s statewide average was $3.31 per gallon. According...

Advertisement
Florida Daily
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

HOW WE COLLECT E-MAIL INFORMATION:

If you sign up to subscribe to Florida Daily’s e-mail newsletter, you will provide us your e-mail address and name, voluntarily, and we will never obtain any of your contact information that you don’t voluntarily provide.

HOW WE USE AN E-MAIL ADDRESS IF YOU VOLUNTARILY PROVIDE IT TO US:

If you voluntarily provide us with your name and email address, we will use it to send you one email update per weekday. Your email address will not be given to any third parties.

YOUR CONTROLS:

You will have the option to unsubscribe to our E-mail update at anytime by clicking an unsubscribe link that will be provided in each E-Mail we send.