ORLANDO, Fla. — Florida gas prices averaged $2.93 in 2021, the highest annual average in seven years, according to AAA.
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“Since it began, the pandemic has caused a roller coaster ride for prices at the pump,” said Mark Jenkins, an AAA spokesman. “Gas prices plummeted in 2020 when lockdowns led to lower fuel demand, causing a glut in global fuel supplies. As a result, many countries cut back on crude production, leaving the market vulnerable to what would happen next. In 2021, vaccinations rolled out and demand came roaring back much faster than oil production. As a result, fuel prices skyrocketed to levels not seen in seven years.
The year ended with prices slowly lowering. Florida’s averaged declined 2 cents in the past two weeks, averaging $3.21 per gallon over the weekend.
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“For now, it appears these higher gas prices will hang around well into 2022,” Jenkins continued. “Motorists should expect continued volatility at the pump, as prices will likely ebb and flow, based on news about the pandemic and its implications on global supply and demand.”
AAA said in 2021, the average price for gasoline in Florida started at a low of $2.19 per gallon and reached a high of $3.36 per gallon (Nov. 19). That high was well beyond the highs of $2.56 (2020), $2.80 (2019), and $2.92 (2018).
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Drivers are spending $48 to fill an average-sized 15-gallon tank of gasoline. AAA said this time last year, a full tank cost $33. In January 2020 it was $37 for a fill-up.
Jenkins said 2021 gas prices were heavily influenced by a 78% upswing in the price of crude oil. U.S. crude prices (WTI) went from $47 per barrel to a high of nearly $85. For now, crude oil futures prices for 2022 appear relatively benign, trading within a range of $70 to just above $75 per barrel. However, as history has proven, that will change in time.
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Here’s how you can save on gas, according to AAA:
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle.
- Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
- Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 5 cents per gallon when they fill up at Shell. Click here for more information.
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