Gas Prices Dropping After Double Hurricane Spike

October 17, 2017

Gasoline prices in Florida have fallen 7 cents during the past week and 25 cents over the past month, after hurricanes Harvey and Irma drove up costs at the pump.

The downward trend is expected to continue in the coming weeks, barring more tropical weather in the Gulf of Mexico.

The auto club AAA said the average price per gallon of gas in Florida is $2.47 a gallon, down from $2.72 a month ago. In the Escambia County area , the average price per gallon is $2.43, down from $2.63 one month ago.

AAA spokesman W. D. Williams said production and distribution are returning to normal at refineries and ports, while demand is decreasing. Williams said price volatility has been felt across the country, beyond states directly impacted by the storms.

“Florida and the Southeastern states that accepted so many of the Florida people who were fleeing from their homes, they had the impact as well,” Williams said. “So, the supply and demand impacted more than just Florida.”

The current price is still more than 20 cents a gallon higher than a year ago. Florida’s most expensive gas is in Miami and West Palm Beach, while the cheapest fuel can be found in the Tampa Bay and Orlando areas.

by The News Service of Florida

Comments

8 Responses to “Gas Prices Dropping After Double Hurricane Spike”

  1. David Huie Green on October 18th, 2017 9:43 pm

    REGARDING:
    “Years ago when we had hurricanes prices didn’t go up and oil companies planned long-term for things. Todays corporate greed has taken over and nobody looks past today to build a cushion for such natural disasters.”

    Actually, prices did fluctuate even if not as much as when a powerful hurricane sits down on the main refineries and just stays there. Production was mostly from land or Middle East. Neither were strongly affected by hurricanes. Refineries aren’t affected unless the hurricane hits hard where they are.

    AND:
    ” one local convenience store chain chose to raise pump prices on Monday to $2.40 a gallon.
    Just seemed that many other were still dropping prices every other day by a penny or two. Just found it odd that there was a need to raise prices. It was almost like someone got greedy.”

    Greed may not have been involved; maybe he wanted to take in less money. If everybody is selling basically the same product and yours is more expensive, you sell less product.

    David for free markets

  2. David Huie Green on October 18th, 2017 10:49 am

    “the power to tax involves the power to destroy,” Chief Justice John Marshall

    (Not that it always does, but it can. dhg)

  3. old man on October 17th, 2017 4:12 pm

    if the price is 2.43 per gallon take away the 4 cent going to E C A T and that makes it 2.39 per gallon if you live in molino or north of molino and drive to pensacola to work that 4 cent will add up in a year ( of course you could take the bus)

  4. John on October 17th, 2017 2:57 pm

    We complain about gas prices here in the US when we pay much lower prices compared to a lot of other nations. I’ll gladly pay over 2 dollars a gallon compared to over 10 plus dollars a gallon in some nations. The world is using more oil. Deal with it.

  5. Jim on October 17th, 2017 8:01 am

    Would love to see the less than $2.00 prices we were promised during the election campaigning with the opening of the Dakota Access, the Keystone and other pipelines. I never really expected it to happen, but thought there might be some small, yet noticeable, effect in our favor.

  6. willy on October 17th, 2017 7:47 am

    seems funny to me that prices change at all. Years ago when we had hurricanes prices didn’t go up and oil companies planned long-term for things. Todays corporate greed has taken over and nobody looks past today to build a cushion for such natural disasters. Corporate exec’s still get huge bonuses even though by the “chosen statistics” the company is going in to default. Amazing how that happens.

  7. retired on October 17th, 2017 7:28 am

    now if diesel will come down

  8. Jason on October 17th, 2017 1:06 am

    Couldnt help but notice that one local convenience store chain chose to raise pump prices on Monday to $2.40 a gallon.

    Just seemed that many other were still dropping prices every other day by a penny or two. Just found it odd that there was a need to raise prices. It was almost like someone got greedy.





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