Fuel prices increased last week after another round of COVID-19 vaccine news

22 November 2020

Fuel prices increased last week after another round of COVID-19 vaccine news. News reports promoting the efficacy of these vaccines have spurred optimism within the fuel market that fuel demand will look much better than it did in 2020. 

U.S. crude oil rose 5 percent last week, finishing above $42 a barrel for the first time since September 1. Wholesale gasoline prices rose a few pennies too, but settled at a level that would suggest a retail price of around $2.00 per gallon, across the state. 

Florida’s average price for gasoline increased 4 cents last week. Drivers are paying an average price of $2.03 per gallon. Sunday’s state average is 7 cents less than a month ago, and 34 cents less than this time last year.

"Drivers are likely to find the lowest Thanksgiving gas prices in 12 years," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Gas prices are inching higher, due to vaccine news, but reports of rising cases of coronavirus should prevent any significant gains at the pump."

Thanksgiving Travel

Earlier this month, AAA released its Thanksgiving Travel Forecast, anticipating a 10% decline in travel this Thanksgiving compared to last year’s holiday. According to the report, 50.6 million Americans will take a road trip. More than 2.6 million of those would be Floridians. However, it’s possible even fewer people will travel this Thanksgiving. Since the forecast was developed, new cases of COVID-19 have increased and the CDC urged Americans to stay home for the holiday.

"AAA urges those who decide to travel to do so safely," Jenkins said. "Wear a mask, bring cleaning supplies, and do your research before leaving to understand if there are any travel restrictions or closures along your route or at your destination."

Visit AAA’s COVID-19 Travel Restrictions Map for the latest state and local travel restrictions. Use TripTik.AAA.com to plan your road trip and help determine which rest stops, gas stations, restaurants and hotels are open along your route.

Regional Prices

  • Most expensive metro markets – West Palm Beach - Boca Raton ($2.16), Pensacola ($2.09), Panama City ($2.08)
  • Least expensive metro markets – Punta Gorda ($1.95), Jacksonville ($1.98), Fort Myers - Cape Coral ($1.98)

Find Florida Gas Prices

  • Daily gas price averages can be found at Gasprices.aaa.com 
  • State and metro averages can be found here

AAA GAS PRICE AVERAGES
(Price per gallon of regular unleaded gasoline)

Sunday Saturday Week Ago Month Ago One Year Ago Record High
National $2.111 $2.112 $2.126 $2.166 $2.591 $4.11   (7/17/2008)
Florida $2.028 $2.031 $1.993 $2.101 $2.365 $4.08   (7/17/2008)
Georgia $1.951 $1.953 $1.969 $1.994 $2.424 $4.16   (9/15/2008)
Click here to view current gasoline price averages


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 with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.