Be prepared for gas prices to rise again in Florida

FORT LAUDERDALE, Fla. – The average price of gas in Florida fell three cents from a year high a week ago.

But that relief could be short-lived and you could soon see a further rise in prices, experts say.

“Unfortunately, the recent jump to the bomb may not be over yet,” said Mark Jenkins, a spokesman for the American Automobile Association. “Pump prices could reach $ 2.60 per gallon in the coming weeks as refineries prepare to switch to summer blended gasoline. Summer gasoline usually costs more to produce. , as it contains more additives, which work to reduce smog during the warmer months ”.

The average price of a gallon of normal unleaded gasoline in Florida is $ 2.46 Monday morning. That’s 26 cents more than the $ 2.20 average at the start of 2021. The national average gas price on Monday morning was $ 2.50.

Last Monday, the average price of $ 2.49 in Florida was the highest since January 2020.

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“Although there was a small decline [this past week], pump prices remain at a level not seen in more than a year, ”said Jenkins, who also noted that crude reached a new high of $ 20.41 20.4 per barrel in 2021, with Friday’s closing price nearly $ 3 (5%) higher than the previous week.

The bottom line is that while your portfolio may be successful, rising prices since the COVID-19 pandemic indicate higher demand and we may be closer to a return to normalcy in as vaccines are distributed.

“We shouldn’t always grimace when we see higher prices,” GasBuddy oil analyst Patrick De Haan told Local 10 News last week. “At least this time it means we’re recovering as a nation.”

De Haan also said the rise in gas prices in recent weeks is unrelated to President Joe Biden taking over the Oval Office.

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“Oil prices are not a function of who is in the White House. They are a function of the supply and demand economy, “he said.” This is really simply a recovery from a pandemic that has had a significant oil demand and now with the recovery of oil demand. , prices rise. That would have happened even if President Trump remained in office, prices would rise because it is about the recovery of the COVID pandemic, not who is in the White House.

Locally, South Florida gas prices are above the state average Monday morning, according to AAA:

• $ 2,482 in Miami-Dade County
  

• $ 2,514 in Broward County
  

• $ 2,564 in Monroe County
  

• $ 2,587 in Palm Beach County

For more information on gas prices in Florida, click here.