Gasoline hit the highest price seen in 3 years last week, according to AAA, with the average price shooting up 46 cents in Florida as compared to August 22.
"Prices surged when Hurricane Harvey caused refinery outages along the Gulf Coast. As refineries recovered, gas prices should have begun to decline after Labor Day, but the arrival of hurricane Irma caused a surge in demand, preventing the impending plunge,” said AAA spokesman Mark Jenkins.
Florida saw the second highest increase in the nation, according to AAA:
1.) Georgia (+50 cents)
2.) Florida (+46 cents)
3.) South Carolina (+45 cents)
4.) Tennessee (+42 cents)
5,) Alabama (+41 cents)
Sunday’s average price for a gallon of regular in Florida was $2.71, according to AAA.com. In Jacksonville, the average price for regular Monday morning was $2.68, according to gasbuddy.com.
"Gas prices are poised to plummet 30 cents," Jenkins said in an email to WJCT News. "It will not happen overnight, as pump prices decline much slower than they rise. Plus, the threat of any new storms making landfall in the United States would compromise the collapse."
Jenkins adds pump prices are expected to decline through the end of the month, and possibly reach the lowest point of the year in sometime between October and December.
Bill Bortzfield can be reached at bbortzfield@wjct.org, 904-358-6349 or on Twitter at @BortzInJax.
