Think it’s costing more to drive in So Fla…as Spring Break approaches and you’re planning any special travel? AAA Says you’re right. Seasonal Price gouging: Business as Usual?
Florida gas prices increased an average of 15 cents per gallon last week. This was the second-largest weekly increase among any other state in the country (Kentucky had the largest at 16 cents).
Florida drivers are paying an average price of $2.62 per gallon for regular unleaded. The state average is the highest so far this year, and 10 cents per gallon more than this time last year. So far this year, the state average has increased 46 cents per gallon.
“Drivers saw a jump at the pump last week, due to rising demand, reduced refinery output, and lower gasoline supplies,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Although it appears the state average is leveling out for now, the springtime surge may not be over quite yet. The highest prices of the year can arrive anytime between now and Memorial Day weekend.”
Gas prices increased because:
- Gasoline demand is rising as winter residents travel to Florida to escape the cold, and others visit the sunshine state for spring break and baseball spring training.
- Gasoline supply levels declined for the fourth consecutive week, according to weekly data from the EIA.
- Refineries are conducting seasonal maintenance leading to reduced output.
- Summer-blend gasoline is hitting the market, as required by the EPA, in effort to reduce smog levels. Because this blend of gasoline requires more additives, it is more expensive to produce.
- 10th highest state average in the country ($2.62)
- 2nd largest weekly increase of any state in the U.S. (15 cents). Kentucky had largest weekly increase of 16 cents.
- 1st in the nation for largest monthly increase (39 cents)
- Most expensive metro markets – West Palm Beach-Boca Raton ($2.76), Fort Lauderdale ($2.70), Port St. Lucie ($2.70)
- Least expensive metro markets – Pensacola ($2.48), Crestview-Fort Walton Beach ($2.53), Tallahassee ($2.53)