Florida gas prices continue to decline, but motorists still paying high price tag

by | Sep 27, 2021

Despite Florida gas prices continuing to decline for the 10th consecutive day, the state average remains high in 2021, according to AAA — The Auto Club Group.

The Sunshine State posted an average of $3.06 per gallon, but Florida drivers are still paying a high price at the pump. according to Monday’s outlook. The price tag per gallon still sits close to the 2021 high, which was set last week after prices jumped 3 cents setting a 2021 high of $3.10 per gallon. In a press release on Monday, AAA noted that the high price is a result of the pandemic and fallout from Hurricane Ida.

“Drivers are still paying some of the most expensive prices at the pump since October 2014,” AAA spokesman Mark Jenkins said in a news release. “Although gasoline prices normally decline in the fall, they remain elevated due to the high price of crude and lower fuel supplies both domestically and around the world.”

AAA said that the lower fuel supplies are a result of both the pandemic and Hurricane Ida’s effects on the Gulf Coast. Following the onset of the pandemic, global and American crude producers let off the throttle. U.S. crude production rates dropped as much as 25 percent in 2020. About half of that had returned before Hurricane Ida struck the gulf coast. Much of that progress, however, was undone three weeks ago when Hurricane Ida temporarily shut down oil refineries and offshore rigs, resulting in U.S. crude oil production rates dropping another 13 percent. Hurricane Ida’s impact in the Gulf Coast has continued to linger, causing lower fuel supplies and upward pressure on prices.

Jenkins added that there is a silver lining, however, with reduction being cut in half over the past two weeks, as refineries and offshore rigs work to reopen. Jenkins says that the strain on supplies may ease in the coming weeks.

Additionally, the price for a barrel of US crude finished at $73.98 Friday on the NYMEX — $2 more than the week before, but less than 2021’s high of $75.25.

Motorists looking to travel around the state will find the highest price per gallon in Central Florida and across parts of South Florida. West Palm Beach-Boca Raton ($3.22), Fort Lauderdale ($3.11), Gainesville ($3.10) posted the highest gas prices in the state. The lowest prices were reported in Punta Gorda ($2.97), Sebring ($3.00), Ocala ($3.00), The Villages ($3.03).

A full breakdown of gas prices across the state can be seen here.

1 Comment

  1. Anonymous

    The auto industry’s expansion into battery and electric vehicles is going to squeeze big oil. Ford’s new electric F150 has 150,000 preorder.

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