AAA: Gas Prices Level Off After Rising 13 Cents In 14 Days In Florida

BREVARD COUNTY, FLORIDA (AAA) — Gas prices seemed to find level ground over the weekend after increasing for more than two weeks. Before the weekend, gas prices rose an average of 12 cents in 19 days, nationwide; and 13 cents in 14 days, in Florida.

“Gas prices rose the wave of rising oil prices last week, pushing pump prices slightly higher in some regions before eventually stalling out over the weekend,” said Mark Jenkins, spokesman, AAA The Auto Club Group.

“Motorists should expect more volatility at the pump throughout the next couple of months, as prices are poised to gain another 30 cents by the summer.”

Oil prices swelled to their highest levels since March 1. The price for a barrel of crude averaged $53.19 last week – an increase of $1.92 from the week before. The increase comes after OPEC released its monthly report, which showed solid economic growth and higher gasoline demand in the U.S. and Asia. These contributing factors could result in a reduction in crude price volatility and increased market stability.

The International Energy Agency (IEA) also released its monthly report this week. It stated that the global oil market could be very close to balancing supply and demand. However, IEA noted in the absence of OPEC extending its production cuts, the second half of the year could be more volatile due to a tighter U.S. supply and lower global oil demand.

Crude oil prices averaged $53.19 per barrel – the highest weekly average in six weeks. Tuesday’s closing price of $53.40 is the highest daily settlement since March 1, 2017. WTI settled at $53.18/b on Friday. Wholesale gasoline prices declined 1-2 cents toward the end of last week.

Florida Gas Prices

Florida gas prices averaged $2.42 on Sunday – the same price as this time last week.

Florida gas prices averaged $2.42 on Sunday – the same price as this time last week. The most expensive metro markets are West Palm Beach/Boca Raton ($2.52), Fort Lauderdale ($2.48), and Miami ($2.47). The least expensive metro markets are Jacksonville ($2.38), Tampa/St. Petersburg/Clearwater ($2.38), and Orlando ($2.39).

For current gas prices in your Florida neighborhood, click here.

Motorists can find the lowest gas prices in their area by downloading the free AAA Mobile app.

About The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, travel, insurance and financial services offerings to over 9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 56 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.