Gas Prices Likely To Rise This Week As Oil Spikes

June 24, 2019

Florida gas prices are currently the lowest in four months, but that could change soon. Crude oil prices surged nearly $5 per barrel last week, which means higher gas prices are likely on the way.

Crude oil and gasoline futures prices rebounded last week due to factors includng rising tensions between the U.S. and Iran following the downing of a U.S. drone on Thursday and a massive fire at a Philadelphia refinery – the largest refinery on the U.S. East Coast, which could require supplies to be redirected from other regions.

“Florida drivers could see gas prices rise 5-10 cents this week, due to both domestic and international issues that caused oil prices to spike,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “However, it’s unclear just how long this upward pressure will stick around, and whether things will worsen or get better this week. Even if the state average rises above $2.50, drivers would still be paying 20 cents per gallon less than this time last year.”

Florida drivers are paying an average price of $2.43 per gallon at the pump – the lowest daily average price since February

In Escambia County, the average price per gallon on Sunday for $2.41, down 3 cents from a week ago and 20 cents from one month ago. In Cantonment Sunday night, states were as low as $2.34 per gallon.

Comments

2 Responses to “Gas Prices Likely To Rise This Week As Oil Spikes”

  1. troubled on June 24th, 2019 8:11 pm

    What is new we are in ESCO FL!!!!

  2. Concerned on June 24th, 2019 7:56 am

    The upcoming Fourth of July has nothing to do with it! Will there be fireworks this year in Flomaton?

Written by William Reynolds · Filed Under News