Florida gas prices shot up across most of the state last week, as historic flooding in South Florida caused widespread gasoline outages, necessitating the reallocation of fuel supplies from other regions. Fortunately, those outages have largely been resolved.
The problem began more than a week ago when flooding prevented fuel trucks from accessing the gasoline terminals at Port Everglades. This was a major problem since that port is a hub for the majority of gasoline for filling stations in Miami, Fort Lauderdale and Palm Beach.
To offset the shortage, gasoline was brought in from other states and driven down from Tampa, Orlando, Port Canaveral, and Jacksonville hubs. Gas prices rose double digits in these metro areas, likely due to having less supply than anticipated.
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To further demonstrate the isolated nature of this price increase, the national average price for gasoline is unchanged from last week. Meanwhile, Florida’s state average jumped 15 cents per gallon.
On Friday, the state average hit $3.72 per gallon, a new 2023 high and the highest daily average price since August 2022.
“There is reason to be optimistic that gas prices won’t hang around these highs for long,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Oil prices dropped to a 3-week low and gas prices began drifting lower through the weekend. There’s hope that the upward pressure on pump prices will begin to ease as supplies stabilize around the state.”
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