In a recent report from AAA auto club, it suggests that gas prices in Florida will continue to increase into the winter months as a result of global supply concerns over crude-oil and gasoline.
According to AAA, as of Monday, the average price per gallon of unleaded gas in Florida is $3.18 and is expected to increase to $3.20 before they expect it to go back down. The national average gas price is $3.33.
The $3.20 price is up 2 cents per gallon from August, and up $1.05 from October 2020.
“It appears the pain at the pump is going to get worse before it gets better,” said AAA spokesman, Mark Jenkins. “Florida drivers are likely to face another round of rising prices, as global supply concerns keep upward pressure on the price of crude. It’s unclear when the relief at the pump will come, but these elevated prices at the pump are likely to linger through the winter months.”
Additionally, another spokesperson for AAA, Andrew Gross, said in a statement to Positively Osceola, “Compared to the price of gas a year ago, it now costs consumers about $17 more to fill up their vehicles … That’s the cost of a large pizza with toppings. And unfortunately, it doesn’t look like drivers will be finding relief at the pump any time soon.”
Data from the U.S. Energy Information Administration (EIA) highlighting the cost of crude oil – which accounts for over half of the price of each gallon of gas – shows that last week’s total domestic gasoline supply dropped by 2 million. The average cost per barrel of crude oil was around $74 in September, which is $4 more than August 2021, and $34 more than September 2020. In the early weeks of October, the average price jumped to more than $80.
While Jenkins and Gross project prices dropping in 2022, the EIA forecast shows there is a chance prices will drop by the end of this year. Although they expect the average price per gallon to reach $3.21 by the end of October, they also say that they expect the average price per gallon to reach $3.05 by the end of December.
– – –
Casey Owens is a contributing writer for The Florida Capital Star. Follow him on Twitter at @cowensreports. Email tips to [email protected]