Gas prices in Florida continue two-week increase, drivers paying $3.40 on average

Karl Etters, Tallahassee Democrat
·2 min read
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Since the beginning of November Florida’s gas prices have jumped 29 cents, including another double digit increase in the last week.

Florida’s average gas price went up another 7 cents in the last week, the latest twist in a double-digit increase over the last two weeks.

Officials with AAA The Auto Club Group say increases can be linked to the international Organization of the Petroleum Exporting Countries’ (OPEC) announcement it would cut daily oil production by millions of barrels.

The average cost of gas in Florida landed at $3.40 a gallon on Sunday, but AAA officials say a decrease in the domestic oil prices could mean a reduction in the coming weeks. Over the last two weeks, gas prices have risen by 23 cents.

AAA: View gas prices and trends around Florida

Find inexpensive gas: Locate the least expensive gas with GasBuddy

Last week's update: Florida gas tax holiday can't compete as OPEC slashes oil production

“Drivers faced another round of rising gas prices last week, as retail prices at the pump continued to adjust to the big jump in oil prices, which occurred more than a week ago,” said AAA spokesman Mark Jenkins. “The 17% oil price hike was largely in response to OPEC’s announcement that it would cut oil production by 2 million barrels per day in effort to raise oil prices. The resulting gas price hike effectively erased any discounts created by the state gas tax holiday, Fortunately, oil prices took a step back last week, which should ease upward pressure at the pump.”

Domestic oil prices settled at $85.11 a barrel on Friday, a decrease of $7 from a week ago.

Gas prices differ from state to state: Will the OPEC cut in oil production make it worse?

Florida gas prices at a glance

Most expensive metro markets – West Palm Beach-Boca Raton ($3.55), Sebastian-Vero Beach ($3.43), Naples ($3.43)

Least expensive metro markets – Crestview-Fort Walton Beach ($3.20), Pensacola ($3.26), Panama City ($3.30)

Daily gas price averages can be found at Gasprices.aaa.com

Contact Karl Etters at ketters@tallahassee.com or @KarlEtters on Twitter.

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This article originally appeared on Tallahassee Democrat: Florida gas prices increase another 7 cents, continuing two-week rise