Florida Gas Prices Hit A New Record High; AAA Says $5 Gas Becoming More Likely

June 6, 2022

Florida gas prices are creeping closer to $5 a gallon. The state average jumped 18 cents last week, reaching a new all-time high of $4.76 per gallon on Sunday.

Escambia County is faring a little better with an average of $4.57 per gallon, the lowest metro average in the state.

The lowest price Sunday night in North Escambia was $4.49 per gallon at two stations on Highway 29 in Cantonment. A low of $4.45 could be found in Pensacola on Nine Mile Road and at the warehouse clubs.

Florida gas prices are now 66% more expensive than a year ago. It now costs $71 to fill an average size 15-gallon tank of gas. That’s nearly $29 more than what drivers paid a year ago.

“Unfortunately, the pain at the pump is likely to get even worse this week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Gasoline made very strong gains in the futures market last week. When that happens, we normally see retail prices rise. It can take days or a week for pump prices to reflect the change, but It wouldn’t be a surprise to see retailers raise their prices another 20 cents by Monday night. At this rate, it sure seems like there’s very little resistance to rising prices at the pump, and $5 a gallon is quickly becoming a very real possibility this summer.”

Crude oil prices rose 3% last week on the futures market. Friday’s settlement of $118.87 per barrel was $3.80/b more than the week before. Gasoline future prices increased 24 cents per gallon from the week before, reaching a new all-time record high. Although OPEC+ announced plans to raise oil production by 648,000 barrels per day.

NorthEscambia.com file photo.

Comments

8 Responses to “Florida Gas Prices Hit A New Record High; AAA Says $5 Gas Becoming More Likely”

  1. James leigh on June 7th, 2022 8:43 am

    Past time for the Democratic Party to go, they have gone nuts. If you voted for any democrat, you share part of the blame for the condition our country is in!!!

  2. Troy on June 6th, 2022 11:45 pm

    Good thing we have a president in the White House that u
    Cares about the American people. It’s not his fault. YEAH, RIGHT!!!!!!!

  3. Derrick white on June 6th, 2022 11:33 pm

    Our jobs in wages is the same Our rental and gas are keep going up I think this government plan is to make sure everyone going to live on the street like homeless even with a good pay job. I feel sorry for my brothers and sister that work bellow the minimum wage

  4. Bill T on June 6th, 2022 9:25 am

    Crazy as it sounds but if the American public would not buy a drop of gas for 7 days and I mean everyone the gas price would drop instantly because they wouldn’t have any place to store it plus production can’t stop in a dime !!!!! As is people just got to have it can’t do without it a must !!!! People today don’t realize the difference in WANTS VS NEED!!!!

  5. tg on June 6th, 2022 8:44 am

    Thanks Brandon!

  6. Mike Honcho on June 6th, 2022 7:40 am

    Yea this Brandon fella

  7. observer on June 6th, 2022 6:23 am

    Don’t worry – gas pump companies are rushing to change pumps to handle the possibility of double-digit gas prices ($10).

  8. A Alex on June 6th, 2022 1:38 am

    A barrel is only 42 gallons
    42 x 648,000 more isnt enough. Much like a billianaire finding a $100 bill. LOL

Written by William Reynolds · Filed Under News