Florida gas prices reach new 2024 high

Garrett Phillips
·1 min read

TAMPA, Fla. (WFLA) — Gas prices in Florida rose an average of 12 cents per gallon last week, reaching a new 2024 high of $3.62 per gallon, according to AAA.

On Sunday the average price ($3.59) per gallon was 11 cents higher than this time last year, but slightly below the springtime high of $3.72 set on April 21, 2023.

“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.”

AAA listed the following conditions as reasons for the spring price hike:

  • 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.

The most expensive markets in Florida are West Palm Beach-Boca Raton ($3.77), Naples ($3.69), and Port St. Lucie ($3.65). The cheapest average gas in the state can be found in Panama City ($3.22), Crestview-Fort Walton ($3.23), and Pensacola ($3.27).

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