Economy

Pump prices expected to stay high through the winter

Pump prices expected to stay high through the winter

The national average price for regular unleaded was $2.56, AAA reported, up 3.4 cents over the week and almost 39 cents more than this time previous year.

The average price of a gallon of regular unleaded gasoline as of Sunday was $2.53 in Florida, up from $2.39 a week ago. According to new numbers from AAA, the price of gas is up significantly versus a year ago.

The average price increased seven cents in Broward County, to $2.56; four cents in Miami-Dade County, to $2.59; and nine cents in Palm Beach County, to $2.63.

Gas prices are leveling out after making a jump of six cents in Georgia last week, according to officials at AAA.

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Pensacola had the least expensive gas in Florida on Sunday with prices averaging $2.46 per gallon followed by Tallahassee at $2.48 and Jacksonville at $2.49 per gallon. Thats when gas stations in an area uniformly raise prices.

This marks the third week in a row that drivers have had to pay more at the pump. Despite the current highs, "oil prices let off the throttle last week, allowing gas prices to find what appears to be solid ground". The national average has gone up 8.7 cents since past year and is also up 8.7 cents more than last month. But those prices have held steady over the weekend.

Motorists have not seen a drop in the price at the pump that usually shows up in the fall, GasBuddy.com analyst Patrick DeHaan said.

Analysts cited several reasons for the significant, unseasonal increase: higher-priced crude oil; a slight dip in US oil production; and fewer domestic oil rigs in operation. "However, while November gas prices have come in like a lion, AAA expects them to go out like a lamb". Prices remain far below their 2014 peaks.


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