Florida gas prices jump 10 cents due to strong summertime demand

TAMPA, Fla. — AAA reported that Florida gas prices jumped an average of 10 cents per gallon last week.

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Sunday’s state average of $3.46 per gallon is the most expensive daily average price since mid-May.

“Summer hasn’t officially begun, but the driving season is off to a roaring start,” said Mark Jenkins, spokesman for AAA the Auto Club Group. “Gasoline demand figures from the past few weeks have been stronger than what we saw during this same time last year. That has contributed to volatility at the gas pump, which is perfectly normal this time of year. The good news for drivers is that oil prices remain low. As long as that’s the case, the state average should remain below this year’s high of $3.72 per gallon.”

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On Friday, the U.S. price of oil settled at $70.17 per barrel. That’s 2% less than last week and $13.09 per barrel less than this year’s high.

Oil prices declined last week, despite efforts from OPEC to boost oil prices by extending production cuts that were set to expire this year, and in the case of Saudi Arabia, pledging to cut an additional 1 million barrels per day beginning in July.

National implied gasoline demand figures from the Energy Information Administration measures gasoline demand at more than 9.2 million barrels per day. The weekly total is a little more than 1% over the same time last year. Gasoline demand over the past four weeks averaged 2% stronger than the same time last year.

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Regional Price Index:

• Most expensive metro markets – West Palm Beach and Boca Raton ($3.62), Naples ($3.52) and Port St. Lucie ($3.51)
• Least expensive metro markets – Crestview and Fort Walton Beach ($3.18), Pensacola ($3.22) and Panama City ($3.22)

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Ways to save on gas:

• Combine errands to limit driving time.
• Shop around for the best gas prices in your community.
• Pay with cash. Some retailers charge extra per gallon for customers who pay with a credit card.
• Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2%.
• Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.

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