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Florida Gas Prices Return To 2023 Highs, AAA Says
April 10, 2023
Florida gas prices rose 12 cents per gallon last week. On Sunday, the state average was $3.58 per gallon. That’s tied with the highest price of 2023, which was initially set in late January.
“Last week’s jump at the pump was expected, after OPEC announced oil production cuts that immediately caused oil prices to surge,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Fortunately, after the initial gains on Monday, the oil market plateaued through the rest of the week. It’s possible that retail gas prices could inch up a little more this week before fully adjusting to the moves in the futures market.”
The average price per gallon in Escambia County was $3.40 A low of $3.35 could be found in North Escambia on Highway 29 in Cantonment, while in Pensacola the bottom dollar price was $3.19 at the warehouse clubs.
The U.S. price of oil rose 6% on Monday, after OPEC announced plans to cut more than a million barrels of oil per day. In March, oil prices plummeted on the banking crisis and concerns about an economic recession that would reduce fuel demand. OPEC’s plans to cut production removes oil from a global market that was already tight on supplies. Their goal is to keep upward pressure on oil prices and that appears to be working.
NorthEscambia.com file photo, click to enlarge.
Comments
2 Responses to “Florida Gas Prices Return To 2023 Highs, AAA Says”
I paid $2.89 for Deisel two weeks ago and had to pay $3.99 for it Friday. Look out grocery prices again. Looking at a bag of triple 13 Fertilizer, a friend with tax paid $30.
Dec 2020 producers were paying around $250 a ton for Nitrogen applications, now it’s around $675 a ton.
Talk about Crazy!
They are done rising, either. The Saudis and OPEC have stated that they will decrease oil production by over 1,000,000 barrels a day beginning May 1st.