Friday, 16 November, 2018

Tampa Bay gas prices rocket 17 cents over a week

Local Gas Prices Reach Highest Level Since 2016 Local gas prices up 34.5 cents per gallon from a year ago
Orlando Vargas | 23 April, 2018, 23:52

As expected, gas prices in Metro Orlando rose 15 cents during the last week - as Florida's prices at the pump hit a three-year high during the weekend.

According to AAA Michigan, gas prices in metro Detroit are up about eight cents to $2.86 per gallon. "OPEC has been remarkably successful in better aligning supply to demand, draining the crude oil glut, and pushing oil prices to their highest since 2014".

The good news, if there is any, is that Patrick DeHaan an analyst with GasBuddy expects prices to drop into the high $2 a gallon for the summer driving season.

AAA said consumer gasoline demand is estimated by the Energy Information Administration at 9.857 million barrels per day - the highest level ever recorded for the month of April and higher than typical summer demand.

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As oil prices have increased and springtime driving has increased, the price of gas in Chattanooga has risen 17.1 cents per gallon in the past month and are up by 34.5 cents per gallon from the same time a year ago.

Palm Beach County holds the dubious honor of leading the state with an average of $2.86, by AAA's count. "With President Trump's tweet last week targeting the price of oil, there may be additional scrutiny on oil prices in the coming weeks that bears monitoring".

According to AAA, gas prices are more expensive across all of the Great Lakes states while gasoline inventories remain relatively stable in the area. It costs $5 more to fill the average Florida tank than it did a year ago.

Gas prices are likely to continue rising in much of the country over the next week as retail prices catch up to last week's rise in the price of oil. "Which means, travelers will likely find the most expensive summer gas prices in four years".

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