Alert: Florida Gas Prices Are on the Rise Again. Here's Why!
Have you ever gone to the gas station and stood shocked by the high price at the pump? I'm pretty sure we all have, especially as of late. Prices had tanked during the COVID pandemic, but they are on the rise again. And no, it's not just because we're emerging from the pandemic.
This article talks about when gas prices started to tick upwards in Florida, why, and what we can expect in the not-so-distant future.
Prices Spiked Since January 2021
Since January 1, 2021, Florida has seen a spike in gas prices. Considering the fact that we're coming out of COVID, life is returning to some semblance of normal, and people are traveling again...that's to be expected, right?
Well, to a degree. However, prices are higher than they've been in YEARS. Since January, gas prices have gone up an average of 70 cents in Florida.
Last week alone, the prices went up an average of 5 cents. That may not seem like much, but we're at the highest price we've been in years. Gas prices are an average of $2.91 across the sunshine state, whereas, in March 2018, the average was at a "high" of $2.90.
The bad news for Florida drivers is that the prices are poised to keep going up, up, up. And it's not simply COVID's fault.
Why We're at the Highest Prices We've Had in Years
An upwards trend in gas prices was predicted by experts before, simply because of COVID's lessening hold on our world. However, that's not the only reason that prices are still going rising. In fact, there are two:
- COVID pandemic is lessening, travel is returning, vaccines are out, and therefore people need gas to get around, AND
- Supplies have been lessening due to the Texas winter storms and power outages, affecting Texas refineries.
So, yes, COVID is affecting gas prices (or rather the lessening of COVID), but so are the limited crude supplies because of the recent extreme weather in Texas.
Future Predictions of a Continued Upwards Trend
Unfortunately, the upwards trend continues. According to AAA spokesman Mark Jenkins, the Florida gas prices could rise another 5 to 10 cents this upcoming week, making that high average price exceed $3.00.
“Rising crude oil and gasoline futures could drag retail gasoline prices higher this week."
That predicted raise is based on the wholesale gas prices, the increase last week, along with the national average. Believe it or not, Florida's average price is currently below the national average of $3.05 per gallon.
It's probably safe to say that most of us are saddened by the increased prices. But what do you think?