Florida gas prices stabilize after an average rise of 13 cents: NorthEscambia.com

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Florida gasoline prices stabilized over the weekend after rising another 13 cents last week. The state average now sits at $ 3.31 per gallon. This is a new high in 2021 and the most expensive daily average price since October 2014.

The average price per gallon on Sunday night in Escambia County was $ 3.23, up four cents from last week. North Escambia’s low price was $ 3.17 at three cantonment stations, while $ 3.12 a gallon was found at a few stations on Highway 29 and Nine Mile Road.

Prices at the Florida pump have climbed a total of 26 cents this month. So far this year, the state average has increased by a total of $ 1.12 per gallon since Jan. 1.

Gas prices have been driven up by soaring crude oil prices,” said Mark Jenkins, spokesperson for AAA – The Auto Club Group. “Crude oil prices have come under enormous upward pressure as global demand for fuel exceeds global production and supply levels. Although oil prices rose again last week, it was to a lesser extent than in previous weeks. Fortunately, gasoline futures have remained stable. So even if gasoline prices rise again this week, it shouldn’t be as big a jump as what drivers have experienced so far this month.

A rather quiet week in the gasoline futures market is good news for motorists. Gasoline futures ended the week down 1 cent from the previous week. This is a positive indicator that retail prices at the pump may stabilize this week. Prior to last week, gasoline futures have posted gains of 12 cents in two straight weeks; and retail prices followed suit.

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