Drivers appear to be taking advantage of the recent milder weather by fueling up and hitting the road. The increase in gasoline demand and slightly more expensive oil pushed the national average for a gallon of gas higher by 15 cents since last week. Today’s national gas price average of $3.44 is 34 cents more than a month ago and ten cents more than a year ago. Florida’s average is $3.48 per gallon, while drivers in Osceola County are paying an average of $3.47 for a gallon of regular unleaded.
“The recent rising temperatures led to rising pump prices,” said Andrew Gross, AAA spokesperson, “And with the cost of oil hitting $80 a barrel, there is a lot of upward pressure on gas prices at the moment.”
The national average is up 30.2 cents from a month ago and 7.3 cents per gallon higher than a year ago. The national average price of diesel has risen 2.6 cents in the last week and stands at $4.60 per gallon.
“Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new Covid cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating.”
Source: AAA, Gas Buddy