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Arctic Blast Power Outages Lead To Surge In Florida Gas Prices
February 22, 2021
Florida gas prices shot up last week, as arctic weather wreaked havoc on the Gulf Coast refinery region and caused a surge in fuel prices. Power outages knocked gasoline refineries in Texas and neighboring states offline and interfered with fuel shipments out of the area.
On average, Florida gas prices jumped 15 cents last week. Drivers are now paying an average price of $2.61 per gallon. That’s the highest daily gas price average since July 2019.
The average price per gallon in Escambia County was $2.57, up about 16 cents. The lowest price to be found Sunday night in North Escambia was $2.51 at a Cantonment station.
“This pump price hike is similar to what you’d expect if a hurricane struck the gulf coast region,” said Mark Jenkins, spokesman, AAA — The Auto Club Group. “Just like the aftermath of a hurricane, workers are working to return to normal operations. Any reports of extended downtime or significant supply impacts could cause another round of rising prices.”
Much of Florida’s gasoline comes from refineries in Texas, Louisiana and Mississippi. So an interruption to the supply line there has a direct impact on prices here. However, Florida is not alone. This region is a major source of gasoline in the United States, accounting for more than 45% of total U.S. petroleum refining capacity. This storm reportedly impacted a little more than half of refinery capacity in the Gulf Coast region.
Although there is not currently a gasoline supply shortage, concerns about reductions in gasoline production caused fuel prices to climb. Crude oil prices rose nearly 3% last week, reaching $61.14 per barrel. Wednesday’s settlement was the highest since January 2020. Wholesale gasoline prices jumped 7% last week, reaching a level not seen since July 2019.
File photo.
Comments
7 Responses to “Arctic Blast Power Outages Lead To Surge In Florida Gas Prices”
Not long a go during the leadership of Biden gas hit four to five dollars a gallon. Don’t forget.it. It’s coming back. Good luck. Gas goes up everything goes up.
Thanks Biden.
Gas prices were already rising prior to the winter storm in Texas. Thats just an excuse they give to help “sell” their agenda. Just wait for all the new gas taxes that get applied to punish us evil drivers of gas run vehicles. And all the prices of goods in stores that are transported by gas run semis and trucks. You get what you vote for!
They have been rising, oil is going for 50+bucks a barrel.
“Can update the story but not the picture?”
The picture is labeled as a file photo. It’s just a photo to illustrate the story.
Can update the story but not the picture?
According to it gas is $1.973
Gas prices are quick to rise and very slow to decrease. I don’t expect cheaper pump prices with the new fangled Government officials in Office now. Our wallets will feel the crunch over the next few years.
Start saving your money for an electric vehicle as gas and diesel will be phased out.