By Team

MIAMI (CBSMiami) — Florida gas prices are now holding steady after unexpectedly jumping 10 cents last week. The state average price of $3.10 per gallon is a new 2021 high, 7 cents more than the previous high, set back in early August.

Pump prices increased alongside rising crude oil and gasoline futures prices. The price of crude increased 4% last week on reports that Gulf of Mexico energy infrastructure is still recovering from Hurricane Ida.

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Most of the onshore oil refineries, that went offline because of the storm, have reportedly already or are in the process of restarting. However, weekly EIA data showed that offshore oil production remained low. Weekly figures from the EIA show US crude production dropped 13%, to hit a 2-year low of 10 million barrels per day. That figure improved by 1% to 10.1 million barrels per day last week. Before the storm, crude production levels reached 11.5 million bpd.

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“The rollercoaster ride at the pump continues for Florida drivers,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Where pump prices go from here is unclear. Hurricane Ida’s impact in the Gulf Coast has lingered on, causing lower fuel supplies and upward pressure on prices. Fortunately, there is some downward pressure in the market, because the summer driving season has ended, leading to less fuel demand. In addition to that, winter gasoline is beginning to move back into the market. Both of these should help ease the strain on supplies.”

Florida drivers are now paying 10 cents per gallon more than a month ago, and 96 cents more than this time last year. The cost to fill an average-sized 15-gallon tank of gas is now $46.50. That’s $14.40 more than a year ago. This time in 2019, the cost for a gallon of gas was $2.50, which amounted to a total of $37.50 for a fill-up.

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Regional Prices

  • Most expensive metro markets – West Palm Beach ($3.23), Fort Lauderdale ($3.13), Port St. Lucie ($3.12)
  • Least expensive metro markets – Pensacola ($3.04), Crestview-Fort Walton Beach ($3.05), Punta Gorda ($3.06) Team