The price of gasoline in Florida, like the average throughout the country, continues to rise and this Monday the average value of a gallon of regular gasoline in the Sunshine State stood at $ 2,968, according to the AAA website.
This price represents an increase of almost 12 cents compared to the previous week, when the average was 2,852, according to the AAA that tracks the price of gasoline throughout the country.
In this same period, last year, the price of regular fuel was at $ 2,018 a gallon, almost a dollar ($ 0.95) below the current price. The national average this Monday remained at $ 3,080.
In South Florida, Miami-Dade County averages $ 2,957 a gallon, while in Broward it is $ 2,985 and in Palm Beach $ 3,079.
To explain the rise in gasoline prices, AAA refers to the value of crude in the current market. In its latest weekly report, new data from the Energy Information Administration (EIA) showed that gas demand fell from 9.15 million b / d to 8.48 million b / d, while total national inventories of gas increased by 7 million bbl to 241 million bbl. Typically, lower gas demand amid rising stocks would help lower gasoline prices, but rising oil prices have caused the opposite to happen, as explained by a note from AAA on Friday.
Crude prices crossed the threshold of $ 70 a barrel last Tuesday, a point they had not seen since mid-October 2018, according to AAA, which also explains that crude prices have increased due to optimism that the launch The vaccine will continue to help regain demand for crude and after the US Consumer Price Index rose 5% in May, compared to last year, a higher than expected increase.
This new report, according to AAA, is stoking market concerns that inflation is driving prices higher.
If domestic crude prices remain high, US drivers will likely continue to see high prices with current fluctuations through the end of the month, AAA warns.
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