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Big Price Jump Likely As State Gas Holiday Expires On Tuesday
October 31, 2022
Florida gas prices are poised for an abrupt increase this week, when the state gas tax holiday expires on November 1st. The sales tax holiday called for a 25 cent discount at the pump throughout October. So it stands to reason that when the gas tax is reinstated on Tuesday, drivers will likely see about a 25 cent jump at the pump, according to AAA.
On Sunday, the state average price for gasoline averaged $3.29 per gallon.
In Escambia County, the average was $3.13 a gallon. A North Escambia low of $3.05 could be found at at least two stations on Highway 29 in Cantonment. In Escambia County, the per gallon price was as low as $2.87 at a Nine Mile Road station.
“While Halloween is traditionally a time for filling bags with candy, drivers may also want to fill their gas tank to take advantage of current prices at the pump,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Pump prices will likely rise 25 cents overnight, when the state gas tax expires on Tuesday morning.”
When the state sales tax holiday was implemented on October 1, gas prices declined a total of 22 cents within a couple of days, falling from $3.39 to $3.17 per gallon. Unfortunately for drivers, that discount was short lived. During the first week of October, OPEC announced plans to cut its oil production rate, which sparked a 17% oil price hike, raising the cost of producing gasoline. This ultimately dragged Florida gas prices back to where they were before the state’s gas tax holiday.
NorthEscambia.com photo, click to enlarge.
Comments
5 Responses to “Big Price Jump Likely As State Gas Holiday Expires On Tuesday”
Does anyone else see the ONE MONTH gas tax holiday right before the election as a stunt by the governor? So that he can say that he lowered the gas tax for everyone? Why didn’t he lower it after Hurricane Ian when it would’ve done more good? Like @Fence Jumper said, it saved me a whopping $8 (although I don’t know where he shops to pay that much for milk)!
I doubt the stations will be as slow increasing the price at the expiration hour as they were in lowering the price when the tax break was initiated.
@ Jason. That 8 bucks equals an extra gallon of milk for the family for the month.
That sucks.. as no sooner did it drop, it rose quickly.. so didn’t seem like a tax break.. and now we get to see it even higher..yippee.. right at the holiday season..
Thanks for the reminder. I made it a point to stop and fill-up. The tax saving amounted to about $8 this month. I am sure it was more for others who have to drive everyday.