JACKSONVILLE, Florida The average price of gasoline in Florida has fallen three cents from its year-high peak a week ago.
But that relief may be short lived and you could soon see another spike in prices, experts say.
Unfortunately, the recent jump to the pump may not be over yet, said Mark Jenkins, spokesperson for the American Automobile Association. Prices at the pump could potentially hit $ 2.60 a gallon in the coming weeks, as refineries prepare to switch to summer gasoline. Summer gasoline is generally more expensive to produce because it contains more additives, which help reduce smog during the warmer months.
The average price of a gallon of regular unleaded gasoline in Florida is $ 2.46 on Monday mornings. That’s 26 cents more than the average of $ 2.20 at the start of 2021. The national average price of gasoline Monday morning was $ 2.50.
As of Monday, the average price of $ 2.49 in Florida was the highest since January 2020.
Although there has been a slight drop [this past week], prices at the pump remain at a level not seen for over a year, said Jenkins, who also pointed out that crude oil hit a new high in 2021 of $ 59.47 per barrel , with a Friday closing price nearly $ 3 (5%) higher than the one week before.
The silver lining is that while your wallet may suffer, the rise in prices since the start of the COVID-19 pandemic signals higher demand and we could be closer to a return to normal with vaccine distribution.
We shouldn’t always wince when we see higher prices, Patrick De Haan, an oil analyst for GasBuddy, told Local 10 News last week. At least this time it means that we are recovering as a nation.
De Haan also said that the rise in gas prices in recent weeks is not linked to President Joe Biden taking over from the Oval Office.
Oil prices don’t depend on who is in the White House. They are a function of the economics of supply and demand, he said. This is simply the resumption of a pandemic that resulted in high demand for oil, and now that demand for oil is rebounding, prices are going up. This would have happened even if President Trump was still in office, prices would go up because it’s about recovering from the COVID pandemic, not who is in the White House.
Locally, Northeast Florida gas prices are lower than the state average Monday morning, according to AAA:
$ 2,393 in Duval County
$ 2,440 in St. Johns County
$ 2,390 at Clay County
$ 2,431 in Nassau County
For more information on gas prices in Florida, Click here.
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