Sebastian gas prices have been lower than expected this year, but that may change this week as Florida’s average is now $3.01 per gallon for regular. It is the highest daily average price since October 2014.
Florida drivers are now paying 7 cents per gallon on average more than a week ago and 15 cents less than this time last month. The state average is now 90 cents more than this time last year when prices plummeted due to low demand because of the pandemic.
“Florida drivers continue to feel the effects of rising crude oil prices, which have made it more expensive to produce gasoline,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
“Oil prices have surged nearly 60% this year, as global fuel demand outpaces the recovery in supplies. Unfortunately, these pump prices will likely hang around through the summer, unless fundamentals change. Tropical Storm Elsa is not expected to impact prices at the pump,” Jenkins added.
Since last year, Jenkins also said that many fuel-producing countries reduced crude oil output during the pandemic due to plummeting fuel demand.
The United States’ production levels dropped a total of 24% from January 2020 to August 2020. Although U.S. production levels have bounced back from mid-2020 lows, they remain 15% below pre-pandemic levels.
“Reopening rigs can take time due to staffing and other logistics,” Jenkins said.
The most expensive places in Florida to get gas is Panama City ($3.13), West Palm Beach-Boca Raton ($3.12), and Tallahassee ($3.05).
In Sebastian, the cheapest place to buy gas this morning is at Murphy USA near Walmart at $2.91.