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Florida Gas Prices Race Toward Record Highs
March 7, 2022
Florida gas prices skyrocketed last week to the highest levels in a decade. Prices at the pump rose an average of 44 cents per gallon in the last five days, reaching an average price of $3.97 on Sunday.
The average price per gallon Sunday night in Escambia County was $3.98. To date, the highest ever average price in Escambia County was $4.03 in July 2008.
A North Escambia low of $3.99 could be found at two locations on Highway 29 in Cantonment. Several North Escambia stations moved past $4 per gallon on Saturday.
“Unfortunately, more price hikes are on the way and drivers may soon begin to see record high prices at the pump,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Gas prices are being dragged higher by sky high oil prices, which are surging in response to the conflict between Russia and Ukraine. Sanctions and regulations against Russia has limited its ability to sell its oil on the global market, thus intensifying global supply concerns in what was already a very tight market due to the pandemic.”
The U.S. price of oil surged 26% last week, rising a little more than $24 per barrel. An increase of that magnitude translates to a 60 cent increase at the pump. So far, the state average has increased 44 cents since last week, which means another 10-15 cent hike is possible. If that happens, the state average would eventually surpass the previous all-time high, moving toward around $4.12 per gallon. The current record high price for regular unleaded gasoline in Florida is $4.08 per gallon, which was set on July 16, 2008.
On Sunday, the national average price for gasoline reached $4 a gallon for the first time since July 2008.
Comments
29 Responses to “Florida Gas Prices Race Toward Record Highs”
REGARDING:
“what about the pay increase Biden promised everyone who works hard Lies and more lies,”
Promised? Or requested?
He probably asked Congress to raise minimum wage. That may be what you thought was a promise.
The problem — well A problem — with a minimum wage is that many take it as the maximum wage.
And when folks talk about “a living wage” they don’t really have firm ground to stand on. A living wage for a single person with no dependents? A living wage for two people with both working and no dependents? A living wage for one person with ten dependents?
And working forty hours per week? What about those working less than twenty hours per week?
There is no one number which satisfies every situation.
And if there were, there are many people no sane employer would even consider hiring for a given job. And many people who couldn’t scrape up the amount demanded.
Life gets complicated when you get past 18, but the Class of 57 had its dreams….
REGARDING:
“That’s one reason oil production hasn’t ramped back up. Investors are hanging on to their money.”
Maybe the fact that it has only been a couple of weeks plays some tiny part. The bigger the project, the more time often involved.
REGARDING:
“@ David Huie Green. The President at that time had nothing to do with the high price of gas.”
Sure he did. Even if only.00001%.
Besides, I didn’t say who I did or would blame. Just that I was getting ready to consider griping. Griping is fun.
By the way, it was under GWB that the development of LED lighting was initiated. This led to a reduction in power demand and lower bills and costs a few years later.
We don’t know what the things we do or fail to do will produce in the future. Life is an adventure.
Will the world run-out of oil by maybe 2065 ? If so , what source of fuel will we need to run up & down the roads like giant Ants ?
Hope everybody is ready to run out and buy an electric car. Like the money is just going to come out of thin air. Everything going up what about the pay increase Biden promised everyone who works hard Lies and more lies,
Still blaming Trump for failure. So worried about his dealings with Russia well they need to worry about Biden deals with China, they are coming next. All is too quiet over there. They are watching and waiting.They see weakness and will take advantage of it.
@Bama. Not sure we’d be sitting back right now if a Putin ally was sitting in the oval office either. High gas prices are nothing compared to what is being done to the people of Ukraine.
Thanks JOE!!!
@DTOM
I replied to your earlier question and it’s not showing up yet, but to follow up on the environmental factor of KXL. KXL was only going to expedite the transportation of tar sand oils that are currently being transported by other means. Pipelines, rain lines and sea vessels. The KXL project would have hurt those businesses. Makes you wonder if those mega companies weren’t behind some of the environmental road blocks and challenges. They definitely wouldn’t be in favor of losing that business to KXL. It all goes back to money and greed. Nevertheless, the KXL wouldn’t increase production or lower our gas prices.
@DTOM
The Keystone XL (KXL) was originally being constructed to efficiently expedite the delivery of the tar sand oils from Alberta, Canada. This same product WAS and IS being shipped to the US via other pipelines, sea vessels and rail lines. The hope was to make it easier to transport, not so much to increase production. The KXL would have near zero effect on US gas prices.
There were several reasons Biden squashed the deal.
*Lack of global demand for oil during that time was low. It wasn’t just lack of
demand for gas from consumers, but tons of industries throughout the world cut
back production of their product due to low demand and COVID related issues.
*One big reason is lack of investor interest. Shell Oil, Koch Brothers,
ConocoPhillips and many other huge investors pulled out of investing in
tar sand oil years ago. That’s another reason I mentioned investor pull-out in my
original comment.
*I’m sure environmental concerns played an issue, but doesn’t make much since
considering the Biden administration has approved and issued numerous
permits for new pipelines and expansion projects since then.
Follow the money. Where you find the investors, you’ll find the projects.
That’s one reason oil production hasn’t ramped back up. Investors are hanging on to their money. We flooded the market during Trump. Lots of oil, cheap gas and low demand. It tanked a barrel of oil to $30 below zero for the first time in history. Great for the consumer, but terrible for the market. Now we’re paying a price for it.
Roger,
Thanks for that analysis. I was going to post something similar, but yours is much better.
Honestly, so many filter their opinions through the lens of their politics.
Orange man bad or Let’s go Brandon!
@ Roger. I don’t disagree with everything you said. But, if you’re implying that keystone xl wasn’t that important because of not being needed then why was Biden in such a rush to kill it? I’ll wait for your answer.
@Shay
Perhaps you should watch something other than Faux News and pull information from legitimate sources, including people that actually work within the business side of the industry.
*Oil is a commodity, same as wheat, corn, gold, silver, etc. Demand sets these
prices
*The Biden administration issued 3,500 gas and oil drilling permits the first year in
office. That’s 900 more permits issued by the Trump administration in their first
year
*There are currently more than 9,000 permits issued for drilling by this
administration
*The Biden administration put up for sale 80 million acres of land in the Gulf of
Mexico last fall for drilling. That is the largest ever in US history.
*There were 14 pipeline projects completed last year. Six were new pipelines,
5 were expansions, 1 reversed flow and 1 changed the product being delivered.
*One major project, the Enbridge Project, brings oil from Alberta, Canada to
Pontiac, Illinois. It added 760,000 bpd from Canada to the US
*The Keystone XL was not needed. Nearly all the proposed oil it was to deliver is
currently being pumped through other lines.
*The original Keystone currently pumps 590,000 bpd from Canada. Last year the
Biden administration approved for an expansion on that line to increase it’s flow by
an additional 170,000 bpd.
*Most investors pulled out of Keystone XL because if all proposed projects are
completed, the US would simply be over pumped, meaning it was not needed.
Ok, all you nice folks that voted for Biden sit back, take a deep breath, now breath out with a sigh of relief. No more bad orange man, no more mean tweets, just open borders so the illegals can bring drugs in, high inflation, high gas prices, supply chain shortages, and the absolute smartest Vice President a country could possibly have. Aren’t you all proud?
Sure glad I didn’t get one of those 650 horsepower pickup trucks. Jacked up front & back with 26 inch wheels & knobby tires for mountain climbing ! 8 or 10 mpg gonna get costly especially when passing everything on the road ! I do like the looks of them Monsters but it only transportation from A to B…and my little V~6 gets 26 mpg. and is quiet & comfortable with lots of room !
@Mike
Oil is priced as a global commodity. We may not get much oil from Russia, but Europe and Asia does. It basically all goes into one big pot, hypothetically speaking.
@ David Huie Green. The President at that time had nothing to do with the high price of gas. Northescambia.com did a piece on September 16 2008 “Sorry Out Of Gas” look it up.
@roger Perhaps you should do a little further research and you will learn more than fourth grade supply and demand principles and discover that the true cause of current gas crisis is that Biden shut down our Keystone domestic oil, thereby forcing us to be reliant on other countries allowing them charge outrageous price tags. And yes, this also happened in 2008 when OBAMA took over, not Bush but nice try, David. Lastly, The gas prices have been steadily rising sense Biden came in and screwed up our domestic oil… Trying to deflect and cast the blame on the Russian/Ukraine situation is pathetic. You don’t order oil and get it overnight, it is a lengthy process that again, has been steadily climbing for over a year.
We should have diversity of prices for gasoline. If you voted for Trump gas costs $2 per gallon. If you voted for Xiden than $10 per gallon.
I understand this may not be well received on this site, but Biden has absolutely nothing to do with the price of our gas. One person does not have that much control and through a little research you can simply see oil prices are set based on simple demand and investor input.
I said I wasn’t going to gripe until it got over the $4.20 per gallon I paid in 2008 back when George W. Bush was in office.
I’m clearing my throat, getting ready to gripe.
Well, if you can’t afford the price of gas, you probably shouldn’t be driving. If you don’t like the way the U.S. is being ran, go somewhere else. No one is stopping you.
Don’t forget Trump’s “genius” buddy Putin for his part in all this. Launching the invasion of sovereign nation does tend to upend markets.
Gas prices were high when Obama was in Office and yes if you don’t remember Joe Biden was in the office too.
I haven’t seen any word that the Government was going to lower their tax on fuel which IF they did could soften the blow some.
“Let’s Go Brandon “
what is really driving this is simple human greed. just like with food prices and fpl. when the price of gas does go down, you’ll notice the price of everything else stays.up. this Ukraine thing couldn’t have that much impact, we don’t get that much oil from them. it is just being used as an excuse, like everything that ever happens can be used if possible to put that kind of spin on it. back in the time of the American Dream of a nice house, 2 cars in the garage, and food on the table, the powers that be at some point said, “you know what? they don’t need to live that good, let’s take more for us, they can just get by and we will live like kings”. simple human greed, and if you don’t believe it you are their kind of people.
I did that!
Anyone miss the mean Tweets yet ??