According to publicly available data, Florida gas prices have increased approximately 48.0% over the last 12 months. The current average price of a gallon of regular gas, as of June 20, was $2.96. This is up from $2.00 per gallon reported one year ago.
The chart below shows the 12-months trend of average gas prices for the United States and Florida. Since March 11, 2021, the average price of gas in Florida has trended below the national average. As of June 20, the U.S. average is $3.07 per gallon.
From November to February, the cost of a gallon gas increased – in Florida and the U.S. – approximately 43% during the four-month period moving from $2.00 to $2.86 per gallon.
This week OPEC forecast that demand for its oil, which fell during the pandemic, would continue to increase in 2021. In its Monthly Oil Report, the 13-member Organization of the Petroleum Exporting Countries predicted favorable market conditions which could potentially lead to higher prices for consumers.
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Steve Stewart is the Managing Editor and a contributor at The Florida Capital Star. Email tips to [email protected]