Gas prices may soon be on the rise. Here’s why

Florida current average price for gasoline stands at $3.20 per gallon

Gas pump

ORLANDO, Fla. – Florida gas prices dropped another penny last week, with some drivers finding much deeper discounts at the pump, but the relief may be short-lived.

Although the state average was $3.20 per gallon on Sunday, 7% of Florida gas stations had pump prices below $3 a gallon.

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“January gas prices are often driven down by lower fuel demand. Unfortunately, that downward trend at the pump may soon come to an end,” said Mark Jenkins, spokesman for AAA. “Oil prices shot up last week and that could restore upward pressure in prices at the pump.”

The price of WTI (U.S.) oil rose 5% last week, reaching a seven-week high of $79.46 on Thursday. The increase was mostly due to concerns about how the unrest in Kazakhstan and logistical problems in Libya would hamper global fuel supplies. The price of oil has increased a total of 11% in the last three weeks.

State Average

  • Sunday’s Avg. Price - $3.20
  • 2021 High - $3.36
  • 2021 Low - $2.19

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.41), Naples ($3.31), Fort Lauderdale ($3.25)
  • Least expensive metro markets – Crestview-Fort Walton Beach ($3.08), Melbourne-Titusville ($3.11), Sebring ($3.12)

About the Author:

Daniel started with WKMG-TV in 2000 and became the digital content manager in 2009. When he's not working on, Daniel likes to head to the beach or find a sporting event nearby.