Gasoline Prices Fall To Lowest February Point In 12 Years

By on March 9, 2016 in WNDB News

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Daytona Beach, FL – Gasoline prices nationwide come to its lowest February point in 12 years, but experts say the climb is about to begin.

AAA’s latest Fuel Gauge Report shows the Daytona Beach area with an average price of $1.74 a gallon for regular unleaded as of Monday. That’s 3 cents below Florida’s average of $1.77 and just above the national average of $1.73.

AAA spokesman Mark Jenkins says drivers haven’t seen gas prices this low to end February since 2004.

“This was the first time in 10 years that gas prices finished the month lower than they started,” Jenkins added. “Historically, gas prices have risen 30 to 40 cents during February, but this year was different due to low oil prices and record high supplies of oil and gasoline.”

Prices in Florida fell 9 cents during February and 8 cents in Daytona Beach, according to AAA. But with March coming around, refinery maintenance and the switch to the more expensive to make summer blend will almost certainly see prices go up, per Jenkins.

“Gas prices [also] rise in March because more Americans are beginning to take spring road trips,” Jenkins noted. “This creates increased demand for gasoline at a time when refineries are putting out less fuel.”

During the past 5 years, gas prices in March rose an average of 9 cents in Florida, according to Jenkins. That’s also how much it went up last March.

Greg Laskoski at FloridaGasPrices.com says he doesn’t expect prices to go much higher than 50 or 60 cents above where they are right now.

“I think we’re going to see a consistent increase,” Laskoski said. “It will probably be at least 5 cents a gallon per week in the next month or two.”

Copyright 2016 Southern Stone Communications.

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