Gulf Coast Refinery Problems Lead To Gas Price Spike

By on July 16, 2018 in WNDB News

Daytona Beach, FL – Gas prices in Volusia and Flagler counties take a big jump after seven refineries along the Gulf Coast report operational issues.

The current average for both counties for a gallon of regular unleaded is $2.80, around 10 cents higher than a week ago and right at Florida’s current average, according to AAA’s latest gas price report. The state average is 12 cents less than this year’s high, yet remains 66 cents more than this time last year.

AAA spokesman Mark Jenkins says some of the issues have already been resolved, while others – like a catalytic cracker outage at the Motiva refinery – could take weeks to fix. That refinery is the largest in the United States.

“Fortunately, fuel prices plunged on the stock market last week, which created adverse pressure to the rising prices caused by refinery issues,” Jenkins added. “This sort of volatility at the pump is common during the summer driving season.”

Prices for oil and gasoline futures also fell in the past week by $4 and 10 cents, respectively, which AAA says is due to several factors, including concerns of an international trade war, added strength in the U.S. dollar, lower gasoline demand numbers and news that Libya would resume oil exports.

The most expensive gas price averages in Florida are in West Palm Beach-Boca Raton ($2.89), Miami ($2.84), and Crestview-Fort Walton Beach ($2.84). The least expensive gas prices are in Punta Gorda ($2.75), Tallahassee ($2.76), and Orlando ($2.77).


If you enjoyed this article, subscribe now to receive more just like it.

Comments are closed.