Local Gas Prices Spiking Up As Bike Week Begins

By on March 9, 2016 in WNDB News

 

another full gas gauge

Daytona Beach, FL – Local gasoline prices are climbing up just in time for Bike Week as refineries nationwide start to make the annual switch from the winter blend to the summer blend.

The latest AAA Fuel Gauge Report shows the average for a gallon of regular unleaded in Daytona Beach at a $1.82 as of Monday morning. That’s 8 cents higher than at the same time a week ago.

The national average rose by 11 cents over the past 11 days, the longest streak of daily increases since May 2015, according to AAA Auto Club Group spokesman Mark Jenkins.

“Shifts in the price of oil, supply and demand, and refinery maintenance are all factors pushing gas prices higher,” Jenkins added. “Fuel supplies usually tighten this time of year as Americans begin taking spring vacations and refineries reduce output while conducting seasonal maintenance.”

Oil prices have increased 24% in the last 3 weeks as gasoline demand nationwide went up 5% in the past week, according to AAA.

In Florida, gas prices have gone up by 11 cents in the past 10 days. The state average price of $1.84 is 10 cents higher than last week.

Expect gas prices to be at least 30 to 50 cents higher than where they are now by Memorial Day weekend, per Jenkins.

Greg Laskoski with GasBuddy.com says their numbers show an average increase of 16 cents at Florida gas pumps over the past week for regular unleaded. He expects the price to eventually peak to around $2.50 during the summer before sliding back down again.

Copyright 2016 Southern Stone Communications.

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