The average price of a gallon of regular unleaded gasoline in Florida dropped 10 cents in the past week, but the trend might not continue as European sanctions on Russian oil take hold.
“Crude oil and gasoline futures prices jumped 9 percent last week, almost completely erasing the losses that led to the two-week drop at the pump,” AAA auto club spokesman Mark Jenkins said in a prepared statement. “This could cause falling pump prices to plateau, or possibly inch higher in the coming weeks.”
AAA said the average price Monday in Florida was $3.39, below the national average of $3.42. Patrick De Haan, head of petroleum analysis with the fuel-savings app GasBuddy, also cautioned that the prices could face an uptick in the coming days.
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“I’d expect increases to start again soon down the road with Russia cutting its oil production to retaliate against sanctions,” De Haan said in a Twitter post Saturday.
The lowest average prices in Florida were in the Panhandle, with motorists paying $3.20 in the Panama City area and $3.26 in the Pensacola area.
The highest average price was in the West Palm Beach area at $3.61, according to AAA.
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