Florida gas prices are inching lower after posting another week of strong gains. The state average rose 17 cents per gallon last week, reaching a 2-month high of $3.58 per gallon on Thursday.
That state average then took a minor step back, declining almost 2 cents through the weekend.
“Florida gas prices surged 32 cents per gallon during the past two weeks,” said Mark Jenkins, Public Relations Manager, AAA – The Auto Club Group. “It’s unusual to see big gains like this in January, but global fundamentals have kept upward pressure on prices at the pump. Oil investors are bullish that global fuel demand will rise now that China, the world’s largest oil importer, is reopening its economy.”
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Fueling some hope for drivers is that oil prices declined 2% last week, after rising 10% the previous two weeks.
Gasoline futures also declined 6 cents last week, after skyrocketing 40 cents per gallon the previous two weeks on the NYMEX.
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