Florida Gas Prices Up Average 10 Cents As Production Remains Lower

September 20, 2021

Florida gas prices are now holding steady after unexpectedly jumping 10 cents last week. The state average price of $3.10 per gallon is a new 2021 high, seven cents more than the previous high, set back in early August.

In Escambia County, the average price per gallon was $3.04, up two cents from a week ago and the same as a month ago. Several stations in Cantonment were at the $2.99 price point Sunday night, while one of the Pensacola wholesale clubs came in at $2.86.

Pump prices increased alongside rising crude oil and gasoline futures prices. The price of crude increased 4% last week on reports that Gulf of Mexico energy infrastructure is still recovering from Hurricane Ida.

Most of the onshore oil refineries — that went offline because of the hurricane — have reportedly already or are in the process of restarting. However, weekly EIA data showed that offshore oil production remained low. Weekly figures from the EIA show US crude production dropped 13%, to hit a 2-year low of 10 million barrels per day. That figure improved by 1% to 10.1 million barrels per day last week.

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Written by William Reynolds · Filed Under News