Ahead Of Holiday Travel, FL Gas Prices Up 10 Cents A Gallon In A Week

By on December 19, 2016 in WNDB News

closeup gas pump edit

Daytona Beach, FL-Florida average gas prices at the pump are up about a dime in the past week according to AAA in Tampa. The average price statewide for a gallon of self-serve regular unleaded Sunday was $2.32. A week ago that same gallon of gas cost just shy of $2.22.

In the Daytona Beach area, the average price for that gallon of gas was $2.31 Sunday.

The national average is $2.24.

“We saw sharp overnight increases at the pumps in Florida, due to rising oil prices,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “It’s possible pump prices in Georgia and Tennessee are having a delayed reaction to recent crude adjustments and could trend upward this week.”

Crude oil markets dipped this week, due in large part to the strengthening of the U.S. dollar, which hit a new 14-year high. Part of the reason for the dollar’s strengthening was because of the Federal Reserve’s announcement of increased interest rates. Typically, when the dollar strengthens, foreign investors get less oil for their dollar and oil prices drop. However, the lingering impact of the OPEC agreement prevented those influences from reaching the retail market.

AAA says drivers will find the highest holiday gas prices in 2-3 years. The price for a gallon of regular unleaded on Christmas Day 2015 was $2.00 nationwide and $2.01 in Florida.

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