Florida Gas Prices Jump 12 Cents; Set New 2024 High

April 1, 2024

Florida gas prices jumped again last week, reacting to gains in the futures market in the week before. In full, the state average rose 12 cents per gallon, reaching a new 2024 high of $3.62 per gallon.

Despite the recent increase, pump prices are following a similar trend to what drivers saw last spring. Sunday’s state average of $3.59 per gallons 11 cents more than what drivers paid this time last year. However, the current price is below last year’s springtime high of $3.72 – which was recorded on April 21.

The average price per gallon in Escambia County was $3.27, and a low of $3.09 could found at a station on west Nine Mile Road. North Escambia prices bottomed out Sunday night at $3.15 per gallon at a Highway 29 station in Cantonment.

According to AAA, factors contributing to upward pressure in the fuel market:

  • Gasoline demand strengthens in the spring as temperatures rise and Americans travel for spring break.
  • Refineries are conducting seasonal maintenance, which can affect gasoline production and/or supplies.
  • Summer gasoline is moving into the market, which is more expensive to produce.
  • The global oil supply market is tight. Although the United States is producing oil at record levels again, OPEC+ extended production cuts to lower global supplies and prop-up oil prices.
  • Geopolitical tensions fuel global demand concerns, after recent Ukraine drone attacks on Russian oil refineries.

“Fuel prices made modest gains in the futures market last week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Analysts believe OPEC and its allies will not lift production cuts before June, even as seasonal fuel demand is projected to grow.”

NorthEscambia.com file photo.

Comments

11 Responses to “Florida Gas Prices Jump 12 Cents; Set New 2024 High”

  1. David Huie Green on April 3rd, 2024 10:35 pm

    REGARDING:
    “Why blame the person in charge of the situation”

    No human is actually in charge even if some have more influence than others.

  2. Steve on April 3rd, 2024 9:49 am

    Why blame the person in charge of the situation when there is a phantom out there to blame ?

  3. Steve on April 2nd, 2024 4:14 pm

    I agree with Henry Coe ; it’s either George Bush’s fault OR the Russians did this .

  4. Floridian on April 2nd, 2024 3:45 pm

    It is quite obvious the everyone commenting, excluding Henry Coe, didn’t read a single word other than the headline. THERE ARE LITERAL BULLET POINTS EXPLAINING THIS TO YOU.

    But yes, blame Biden because that’s easier than reading.

  5. David Huie Green on April 2nd, 2024 2:06 pm

    REGARDING:
    “Stop blaming Biden.”

    Nah, it is all his fault. A thriving economy demands more energy and raises the prices. If we were shut down like we were under the previous fellow, we would not have as high of a demand and the prices would drop again.

    OPEC+ is trying to raise prices but American production keeps increasing and competing, keeping prices lower than Russia, Russia, Russia and the others want.

    Meanwhile, better batteries and electric cars are being developed and made, cheaper wind and solar is reducing demand, Biden is approving safe nuclear power for its lower environmental impact, and life gets better and better. (If they could just develop a cure for stupidity and for aging….)

    David for a better world
    with less fear and hatred

  6. Tj on April 2nd, 2024 1:07 pm

    Bidenomics at work. We the people are being told the economy is great when we know it is not.think for yourself!

  7. Henry Coe on April 1st, 2024 11:41 pm

    Stop blaming Biden. The US has maxed out production levels while folks like Saudi Arabia are keeping production levels lower than pre-covid levels in order to have the market inflate gas prices.
    Think about it. Why would Biden want us to have higher gas prices? He doesn’t. With that in mind, why would Trump want you to pay lower gas prices, he doesn’t care what we pay for gas and he had/has no way to lower the cost of oil and gas.
    It is convenient for campaign fodder that gas prices were low during Trump’s term but that was all about people not buying gas while production levels were high driving the prices. There was absolutely nothing that Trump did that had the intention of lowering gas prices.
    If you really believe Trump lowered gas prices then please, tell us all how he did it. There was no legislation that he signed into law that had any affect on the price of gas and oil. There was nothing that Trump did by way of Foreign Policy that increased production level in the market.
    By all means, if you have a policy beef with Biden, please express it and explain what you think we should be doing as an alternative, but blaming Biden for gas prices that are controlled by market influences is beyond ridiculous so please stop it.

  8. David on April 1st, 2024 9:17 pm

    And all that we hear from the Whitehouse press secretary is how much better the economy is in comparison with the previous presidency……… Bologna!!! Nope, can’t use that term anymore, cause Bologna has gone sky high also…..

  9. Steve on April 1st, 2024 2:50 pm

    Another on the long list of Biden failures

  10. Sedition on April 1st, 2024 9:26 am

    Another example of Brandon’s buld back better.

  11. bob c. on April 1st, 2024 7:47 am

    WE The People need to Demand our lawmakers allow permitting for building more, new, petroleum refineries, open the restricted oil and gas fields, regain our energy superiority in the World.
    This business of making everything electric to satisfy the financial desires of a small segment of the population is blind to the true needs of Our Citizens.
    Let’s get off our duffs and hold OUR Lawmakers Accountable for representing our needs as a nation.





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