Pump prices could still increase in response to gains in wholesale gasoline prices
Florida gas prices have held relatively steady since Hurricane Laura made landfall along the Gulf Coast. The region is home to nearly half of total petroleum refining capacity in the United States. However, only about 15% of total US capacity shutdown as a precaution before the storm.
So far, there are no reports of significant long-term damage to gulf coast fuel supply chain, which provides gasoline to states like Florida. However, two refineries in Lake Charles, Louisiana are still conducting damage assessments.
"Normally, when a storm of this size hits the gulf coast refinery region, drivers see a jump in prices at the pump," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "However, gas prices have been held in check, likely due to lower demand because of the pandemic. Florida gas prices didn’t move much last week, but there could be a lag. Wholesale gasoline prices did get more expensive last week, which could cause retail prices to get slightly more expensive in the days ahead."
Last week, gasoline futures pin-balled up and down before-and-after the storm made landfall. Ultimately wholesale gasoline prices finished the week up 5 cents. A similar increase is possible at the pump, but AAA is not forecasting a significant increase in gas prices.
Florida gas prices averaged $2.07 per gallon, on Sunday. The state average is the same as a week ago, 8 cents less than last month, and 38 cents per gallon less than this time last year.
To date, Florida gas prices averaged $2.10 per gallon for the month of August. That’s the lowest monthly price for August since 2004.
- Most expensive metro markets – West Palm Beach-Boca Raton ($2.20), Tallahassee ($2.19), Panama City ($2.15)
- Least expensive metro markets – Punta Gorda ($1.96), Tampa-St. Petersburg-Clearwater ($2.00), Orlando ($2.01)
Find Florida Gas Prices
- Daily gas price averages can be found at Gasprices.aaa.com
- State and metro averages can be found here
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Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.
About AAA - The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, banking, financial services, and travel offerings to over 13.5 million members across 13 U.S. states, the province of Quebec and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Carolina, North Dakota, Tennessee, Wisconsin, Puerto Rico, South Carolina and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. Visit AAA on the Internet at AAA.com.