Florida gas prices jumped an average of 10 cents per gallon last week, according to AAA. Sunday’s state average of $3.46 per gallon was the most expensive daily average price since mid-May.
“Summer hasn’t officially begun, but the driving season is off to a roaring start,” said AAA spokesman Mark Jenkins. “Gasoline demand figures from the past few weeks have been stronger than what we saw during this same time last year. That has contributed to volatility at the gas pump, which is perfectly normal this time of year. The good news for drivers is that oil prices remain low. As long as that’s the case, the state average should remain below this year’s high of $3.72 per gallon.”
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Gasoline demand over the past four weeks averaged 2% stronger than the same time last year.
The cheapest gas in the Jacksonville area is the RaceTrac on Beach Boulevard for $3.09. BJ’s and Sam’s Club have gas for $3.07 per gallon but these gas stations require memberships.
On Friday, the U.S. price of oil settled at $70.17 per barrel, which was 2% less than last week and $13.09/b less than this year’s high.
Oil prices also declined last week, despite efforts from OPEC to boost oil prices by extending production cuts that were set to expire this year, and in the case of Saudi Arabia, pledging to cut an additional 1 million barrels per day beginning in July.