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Florida Gas Prices Could Rise 5 To 20 Cents This Week Due To Saudi Oil Attacks
September 16, 2019
Florida drivers could soon see gas prices move higher, as crude oil prices surged after a series of drone attacks on Saudi Arabian oil facilities during the weekend, according to AAA.
The drone attacks targeted two huge Saudi processing plants, knocking out half the kingdom’s oil capacity, and nearly six percent of what the world consumes every day. Various news reports have suggested other countries would ramp up production to offset the shortage. President Donald Trump authorized the release of oil from the Strategic Petroleum Reserve in effort to balance the market.
“This is a fluid situation which has quickly ignited, but could also flame out – depending on how the market responds over the next couple of days,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “If oil prices hold at current levels, drivers could see gas prices begin to rise anywhere from 5-20 cents by the end of the week.”
Florida drivers are currently paying an average price of $2.40 per gallon. The state average is 3 cents less than a week ago, and 34 cents less than this time last year. The highest daily average price so far this year was $2.80 per gallon; the lowest was $2.12.
Sunday night, Escambia County had among the lowest gas prices in the state. The average price per gallon was $2.36 per gallon, while three stations in Cantonment were at $2.26.
Comments
10 Responses to “Florida Gas Prices Could Rise 5 To 20 Cents This Week Due To Saudi Oil Attacks”
(Me and my big mouth. The price rose 19¢/gallon today.)
The gas prices vary in this area. If one station goes up the others near seem to go up.The same gas trucked in this morning will be 10 cent more by noon. The owners squeeze our pockets regularly. The same trucks deliver to Shell, Raceway, Walmart and others from the port of Pensacola. Its not the county or city taxes or the Iranians.
REGARDING:
“It’s a ploy to mark up the price and make some cash. Supply and demand my backside.”
You think Saudi Arabia got Iran or one if its terrorist underlings to attack Saudi Arabia because these mortal enemies will get rich by having half it’s production capacity destroyed?
Meanwhile, the price of gasoline in Cantonment hasn’t changed in several weeks. Pretty poor ploy.
Also interesting when people think supply and demand considerations are imaginary. The petroleum industry has improved domestic supply over the strenuous objections of those afraid they will profit from their hard, dangerous work Much demand has been shifted to non-petroleum based sources so the lights will stay on even if the Middle East follows its natural tendency to destroy itself. (And the lights require much less energy to work anyway.)
David for appreciation of good things
@thisistrash—I guess that to some, crude (oil) might be considered to be crud. Pretty soon they will raise the price anyway, on the excuse they are changing to the Winter blend, as they do every year. I agree with others. We export oil/gas. We probably have storage tanks in Texas & elsewhere with many months supply of gasoline. This in addition to the Strategic Oil Reserves. A scare tactic to raise the price (gouge the public)? More than likely. Can’t beat good old American Wall Street Capitalism!
It’s a ploy to mark up the price and make some cash. Supply and demand my backside. There’s enough production, and supply in the USA to keep our country going for decades. The crooks on Wall Street have been looking for an excuse to make a buck off of crud for months, and they now have their excuse. Fracking, Drilling in the US, and American production has caused US prices to plummet and STAY low. I can understand Brent Crud going up. But West Texas and Local NW FL prices have ZERO excuse other than Wall Street ripping you guys off.
the reason our current gas prices are .34 lower than this time last year is because we export more oil than we import. if we don’t increase consumption, but rather release Strategic Oil Reserves (oil socked away for a rainy day) why would our gasoline prices rise. We can replenish the SOR supply during the winter months when oil consumption decreases
If our gas cost is based off of futures, which normally takes several weeks for us to realize, why would we feel the cost so fast if the sabotaged attack occurred only days ago. Seems like the futures are manipulated instantly to achieve maximum profit. Gotta love capitalism. Gotta miss democracy.
The US is a net exporter of crude, now.
LA and MS are significantly cheaper on gas than FL.
Ever wonder why?
Whatever will the Saudi’s do when we go to electric cars? Much less oil involved.
Yet they ban off shore drilling.in Florida. America hating Obama gave Iran $$$$ for Nothing