Gas prices expected to keep soaring


Published: Monday, July 22, 2013 at 12:31 p.m.
Last Modified: Monday, July 22, 2013 at 12:31 p.m.

Retail gas prices jumped another 10 cents across the Southeast last week and the upward trend is not expected to slow down anytime soon.

Facts

Average price for a gallon of regular gasoline

U.S.
Monday: $3.671
Week earlier: $3.613
Month earlier: $3.582
Year earlier: $3.467

Florida
Monday: $3.623
Week earlier: $3.546
Month earlier: $3.517
Year earlier: $3.396

Source: AAA

If price trends follow those of 2011 and 2012, motorists could see gas prices rise until mid-September.

“Motorists need to prepare themselves for increased pump prices,” Jessica Brady, a spokeswoman with AAA and The Auto Club Group, said Monday.

"We’re likely to see a lot more volatility in the market as peak hurricane season approaches. The average cost for a gallon of gas in the Southeast could climb upwards of $3.70 to $3.80, or higher if a storm disrupts refineries along the coast or in the Gulf of Mexico.”

The cost for a barrel of oil closed last Friday at $108.05 on the NYMEX — $2.10 more than the week prior.

The national average price of regular unleaded gasoline is $3.67, 6 cents more than last week. Florida’s average of $3.62 increased about 8 cents from last week.

In Gainesville, the average price of a gallon of gas on Monday was $3.67, up five cents from last Monday. Prices ranged from $3.57 to $3.86, according to the crowd-sourcing website www.gasbuddy.com.

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