Daytona Beach, FL – The fortunate break at the pump could be coming to an unfortunate end.
And that’s after Florida gas prices sit the lowest they’ve been in four months. Which is $2.43 per gallon, which is a seven cent drop compared to last week.
The latest gas report from AAA says that crude oil prices surged nearly $5 per barrel last week, which could indicate that higher prices are likely on their way.
That change came along with some national headlines, including the rising tensions between the United States and Iran, a massive fire at the Philadelphia Energy Solutions refinery in Pennsylvania, and a bullish inventory report from the US Energy Information Administration showing slight reductions to both crude supply and production.
“Florida drivers could see gas prices rise 5-10 cents this week, due to both domestic and international issues that caused oil prices to spike,” said Mark Jenkins, spokesman for AAA. “However, it’s unclear just how long this upward pressure will stick around, and whether things will worsen or get better this week.”
However, even if the state average rises above $2.50, Florida drivers would still be paying 20 cents per gallon less than this time last year.
The price of US crude settled at $57.43 per barrel on Friday (June 21st), after sinking below $52 per barrel on Monday (June 17th).
The highest daily settlement for US crude this year was $66.30 per barrel in April. The lowest was $46.54 a barrel in January.
So far this year, Florida prices have dropped as low as $2.12 per gallon (regular unleaded) in January, and reached a high of nearly $2.80 in April.
Currently, both Volusia and Flagler drivers are paying the same average price they were seeing last week. That’s $2.49 per gallon for Volusia drivers and $2.51 for Flagler drivers.
The highest average price in the state of Florida is $2.58 per gallon which can be found in Panama City. That’s three cents lower than Naples’ price from last week, which was $2.61.
Drivers in Punta Gorda are again seeing the lowest average prices in the state, with the average currently sitting at $2.34 per gallon, four cents lower than their average price at the state of last week.
The national average currently sits at $2.66 per gallon, a two cent drop when compared to last week’s.