Florida drivers saw a jump at the pump last week, with the statewide average price for gasoline rising by 11 cents; however, it successfully avoided crossing the $3-per-gallon line.
The price fluctuation is part of what an AAA spokesperson calls continuous “gas price cycling” across the state. After declining for several days, the average price quickly reversed course.
“Gas price cycling continues at Florida gas pumps, where the state average declines for 5-10 days, then rebounds anywhere from 10-25 cents,” said Mark Jenkins, spokesman for AAA – The Auto Club Group. “Fortunately, this week’s hike was on the low end, and drivers continue to find some of the lowest prices of the year.”
The Week in Price Swings
The weekly cycle saw the state average fall from $2.92 on Sunday to a low of $2.87 per gallon by Tuesday. By Friday, the jump was complete, settling at $2.98/g. The state average on Sunday, November 3, was $2.97 per gallon.
For drivers, the good news is that prices remain relatively modest compared to recent history:
- The current average is 14 cents less than a month ago.
- It is 7 cents less than the price a year ago.
- The lowest daily average price this year was $2.87 per gallon, recorded on October 21.
- The highest price of the year remains $3.23/g, reached on January 16.
Crude Oil Market Action
Despite the rise in retail prices, the cost of crude oil—a major driver of gasoline prices—moved 1% lower last week.
This follows a 7% increase in crude oil prices the previous week, suggesting the most recent jump at Florida pumps may be a delayed reaction to earlier market surges rather than current market conditions.
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