Spike in Florida gas prices last week have shifted back down, AAA says
Gas prices in Florida rose to their highest level since December 20 in the last week, but have eased off in the last few days, according to AAA.
The state average had jumped 14 cents from a week ago to a high of $2.89 per gallon on Thursday, which was a spike not see since before Christmas, but prices have since slid back by 3 cents to $2.86 per gallon. It had dropped by Monday morning to $2.84 per gallon while the national average was at $2.88 per gallon.
“These fluctuations are part of a price‑cycling trend we’ve been seeing for more than a year now,” said AAA spokesperson Mark Jenkins “Retail prices tend to rise sharply over a short period, then gradually drift lower. Even with small movements in the oil market, this cycle continues to drive most of the day-to-day volatility at the pump.”
The price of crude oil had finished the week at $61.07 per barrel, which is a a 3% increase from the previous week.
“Higher oil prices typically place upward pressure on pump prices, but Florida’s retail market continues to follow its own pattern,” AAA stated.
