Florida gas prices increased last week to an average price of $3.31 per gallon, and higher by over 10 cents in the Palm Coast-Flagler area. The state’s average price was 15 cents higher by the time it peaked last Thursday before dropping by 2 cents by the weekend.
In Palm Coast, regular, unleaded gas was selling for 3.45 to $3.49 a gallon at most stations along State Road 100, with $3.49 the most common price. Palm Coast Parkway prices were a few cents lower. Prices in St. Augustine were about the same, but prices in Volusia County were significantly lower, ranging between $3.14 and $3.25 even outside of Buc-ee’s and Sam’s Club, which tend to have the lowest prices.
Buc-ee’s and Sam’s gas was selling for $3.09 at both locations on LPGA Boulevard in Daytona Beach.
Lower gas prices are expected soon. Oil prices have been falling sharply. Gas prices follow. At the beginning of March, oil was selling at over $80 a barrel. It has since plummeted to $66 a barrel, the lowet level since December 2021, which could bring gas prices down below $3 a gallon before long.
AAA Florida in a release notes that the gasoline market did not take quite as big of a hit, likely because strong springtime demand coupled with refinery maintenance season and the switch to summer gasoline is serving as somewhat of a buoy. Regardless, gasoline futures dropped 24 cents through the past two weeks, which is an indicator that pump prices should move lower, unless oil prices rebound this week. Oil was trading a bit higher Monday, above $67 a barrel.
“Despite last week’s jump at the pump, Florida gas prices are still 27 cents per gallon less than this year’s high, which was recorded at the end of January,” said AAA spokesman Mark Jenkins. “Price hikes like these are common this time of year as spring vacations drive-up gasoline demand, while refineries conduct seasonal maintenance due and switch to summer gasoline.”
The oil Companies have been taking advantage of US consumers and have been profiteering on the circumstances. They are the prime reason for inflation. The Oil Companies Can’t be Trusted. I’m not sure of what actions to take, but we just can’t let them get away with hurting America.
The Crude Oil Prices per barrel peaked in 2008 at $142 per barrel. In November 2022 prices were at $87 per barrel. Today Crude oil is at $67 per barrel.
The Oil Company executives need to be called in to testify in a congressional hearing to explain why the prices were so much higher in the summer compared to the peak Crude commodity prices in 2008.
See the Commodity prices yourself, after you click on the link, click on MAX to see the chart of Crude oil prices per barrel all the way back to 2000.