Don't Expect Gas Prices To Decrease Soon In Florida, Here's Why

FLORIDA — Florida gas prices are slightly higher than a week ago, according to AAA.

The state average of $3.18 per gallon is a half-cent more than this time last week.

Although gas prices held relatively steady last week, another increase could be on the way. Crude and gasoline futures prices rose again a week ago, setting new 2021 highs. The price of U.S. crude increased four percent last week. Friday's settlement of $82.28 per barrel was $3 per barrel more than the week before. Meanwhile gasoline futures prices increased 12 cents on the NYMEX, a AAA news release said.

Wholesale gasoline prices reached a level that—if sustained—could raise the state average above $3.20 per gallon.

"It appears the pain at the pump is going to get worse before it gets better," Mark Jenkins, AA spokesman, said. "Florida drivers are likely to face another round of rising prices, as global supply concerns keep upward pressure on the price of crude. It's unclear when the relief at the pump will come, but these elevated prices at the pump are likely to linger through the winter months."

The reason prices keep rising, and could remain high through the winter is due to a natural gas shortage affecting Asia and Europe, according to Jenkins. Because of that shortage, natural gas prices have skyrocketed in those continents, forcing their countries to turn to what was already an extremely tight crude oil market for electricity and heating.

Regional Prices, According To AA:

• Most expensive metro markets – West Palm Beach-Boca Raton ($3.35), Panama City ($3.23), Fort Lauderdale ($3.22)
• Least expensive metro markets – Punta Gorda ($3.10), Jacksonville ($3.12), Orlando ($3.13), Tampa-St. Petersburg-Clearwater ($3.14)

Find Florida Gas Prices

• Daily gas price averages can be found at Gasprices.aaa.com
• State and metro averages can be found here