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Florida Gas Prices Reach New Record Highs, AAA Says
May 16, 2022
The average price for gasoline in Florida reached a new record high of $4.49 per gallon on Sunday. This beats the previous record of $4.38/g, set back in March (soon after Russia invaded Ukraine). Before this year, the record high was $4.08 per gallon, which was set back in 2008.
Florida’s average price jumped about 30 cents in the past week. The state average is now $1.60 per gallon more than a year ago.
Escambia County drivers were paying the lowest average price in the state on Sunday at $4.28. The lowest price Sunday night in North Escambia was $4.18 at a station on Muscogee Road in Cantonment, while several stations in Cantonment and Pensacola were at $4.19
“Drivers are dealing with unprecedented pain at the pump and things could soon get worse before they get better,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “We saw more big gains in the gasoline futures market late last week, which could trickle down to yet another 10-20 cent jump at the pump in the near future.”
“Unfortunately, $4 gasoline is likely to be that unwelcome passenger on most Florida summer road trips,” Jenkins continued. “At this point, the state average is not expected to exceed $5 a gallon. However, the fuel market is extremely unstable and things are changing by the day. Either way, drivers should expect gas prices to keep fluctuating throughout the summer and potentially the rest of the year.”
NorthEscambia.com photo, click to enlarge.
Comments
14 Responses to “Florida Gas Prices Reach New Record Highs, AAA Says”
REGARDING:
“The amount of money spent lobbying that takes place to further their self interests is also appalling.”
True. They shouldn’t have to spend so much to keep Congress from stealing from them. At its heart, a lobbyist is one who speaks for others. Their existence is guaranteed in the First Amendment in The Bill of Rights under redress for wrongs. They point out the wrong of stealing from them. Regrettably, some congressmen only listen if they get kickbacks. Or so we are told.
“My point is simply they are private companies deciding what they want to charge at the pump. PRIVATE companies.”
As they should. They don’t exist in a vacuum. If they charge more than others or produce an inferior product, people will buy from others and they will go broke. Free markets tend to yield the best balance of quality and value for all things.
“The irony is that if Biden were to use executive orders to prevent the prices from rising, all the conservatives would lose their minds with claims of “government overreach”.”
Which it would be. Also a violation of his oath of office since he would be making laws rather than enforcing them.
And it would be harmful to the nation. You might remember that we had wage and price controls during World War 2 which froze how much a man was allowed to sell petroleum from his property for. Those controls remained in place up until President Carter. As a result, oilfield developments happened in other countries and we became dependent on tyrants, thugs, terrorists, theocracies to keep our equipment running. They were also unreliable sources.
President Carter realized free people would not expand exploration and development of petroleum reserves unless they were rewarded. But he hated to let those already providing oil make more money. He considered it a windfall profit and taxed accordingly.
We suffer from what he did and all before him even though he improved the bad quite a bit. (In the other hand he also tried to get us committed to coal.) Think how many have died due to the wars financed by our cheap domestic supply encouraging foreign suppliers.
David for nuclear energy
@NPC I understand your implication of stimulus funds that’s been widely reported. But going further back, had we had a real leader in this country at the start of the pandemic, we could also speculate things would be different. But you nailed it that the narrow minded (below) won’t change there minds no matter the facts.
It is unfair to blame sleepy Joe for every aspect of gasoline prices. For those who think he is at fault no explanation would change their opinion. However, for those who feel Biden doesn’t share some responsibility and use the old and outdated phrase to educate yourself, I encourage you to heed your own advice.
It is the regulations on the which the president is putting on the oil leases that has the oil companies scared to make a commitment to start new oil leases
@David Huie Green,
I appreciate the comment/opinion.
Per e360.yae.edu
“Coal, oil, and natural gas received $5.9 trillion in subsidies in 2020 — or roughly $11 million every minute — according to a new analysis from the International Monetary Fund.“
Call it what you want, but the fossil fuel industry is not fueling (pun intended) their endeavors alone. The amount of money spent lobbying that takes place to further their self interests is also appalling. My point is simply they are private companies deciding what they want to charge at the pump. PRIVATE companies. The irony is that if Biden were to use executive orders to prevent the prices from rising, all the conservatives would lose their minds with claims of “government overreach”. Some people are just born to be victims I suppose.
REGARDING:
“Oil companies using subsidized tax dollars to make billions of dollars in record setting profits”
FROM MY BUDDY WIKI
“The oil depletion allowance in American (US) tax law is an allowance claimable by anyone with an economic interest in a mineral deposit or standing timber. The principle is that the asset is a capital investment that is a wasting asset, and therefore depreciation can reasonably be offset (effectively as a capital loss) against income.
“The oil depletion allowance has been subject of interest, because of the relationship of big oil with the US government, and because one method (percentage depletion) of claiming the allowance makes it possible to write off more than the whole capital cost of the asset.”
Anyhoo, the idea is that you are selling an asset, depleting your supply of something valuable, in this case petroleum or natural gas, but it applies to other assets as well. Every well goes dry in time since the contents are not replaced.
So it is not that the government is giving them money, which is what a subsidy would really be, but that it is not taxing it as income like it would be if they were not selling off an asset they own which will cease to exist because they sold it.
(Somehow this also applies to geothermal which I have not figured out yet, but don’t understand governmental thinking at times. Not that I begrudge geothermal power supplies.)
Regardless, for the oil and gal industry, calling it a subsidy is actually a lie. But BIG OIL is obviously a monster to be killed even as it heats our homes, powers our homes and hospitals and emergency vehicles.
What will we do when BIG OIL is dead if we haven’t provided a replacement for it?
We are only getting a taste of that accomplishment — an expensive taste.
David for nuclear power
Gas prices are up all over the world, but sure, let’s pretend the president has this level of control and influence.
Poor ol’ Joe. While we pay for our own gas, we’re paying for yours too. But that might be ok….cuz mid terms are just around the corner.
Oil companies using subsidized tax dollars to make billions of dollars in record setting profits have somehow convinced people to blame a singe person who literally owns 0 oil companies for the high prices you’re seeing. “lEtS gO bRaNdOn”…. Honestly, you sound so dumb. Hey, you know if you can’t afford the price of gas, maybe lay off the Copenhagen, 305s, and Natural Light. You could always drive a more fuel effecting vehicle too. Blame anyone but the people actually responsible.
Building
Back
Better
Can anyone explain to me how exactly the president of the United States made gas prices around the world increase?
Isn’t it more likely that the major gas companies (Shell, BP, Mobil, etc) that all posted record profits this quarter saw an opportunity to make more money for shareholders and increased prices?
Thank you Joe Biden
Thanks Joe!!!!
Lets go brandon!