Holiday travelers to get sticker shock at the pumps
Published: Monday, November 25, 2013 at 11:41 a.m.
Last Modified: Monday, November 25, 2013 at 11:41 a.m.
Motorists are facing a spike in gas prices right before one of the busiest travel weekends of the year.
Average price for a gallon of regular gasoline
A week earlier: $3.208
A month earlier: $3.302
A year earlier: $3.426
A week earlier: $3.238
A month earlier: $3.295
A year earlier: $3.389
Southeast fuel prices rose last week after Gulf Coast supplies tightened. Florida was impacted the most with the state’s average jumping almost 20 cents in a week.
Refineries in Louisiana and Texas that supply the Gulf Coast are in the midst of production problems that cut output capacity. The maintenance issues are directly affecting pump prices in southeast states.
The increase in price pushed Florida in the red zone as one of the state’s with the nation’s highest gas prices.
"The holiday budget for many Americans just got tighter," Jessica Brady, AAA spokeswoman, The Auto Club Group, said on Monday.
"At first, it looked like millions of motorists would enjoy some of the lowest gas prices of the year during their Thanksgiving road trips. Unfortunately, that won’t be the case. The good news is the spike in pump prices should be temporary. Once Gulf Coast refineries return to full production, drivers should see gas prices move back on a downward path.”
Supplies across the nation continue to increase and the price for a barrel of crude is still below $95. U.S inventories recently rose by 375,000 barrels for a total of 389 million, according to the Energy Information Administration.
Both the nation’s ($3.28) and the state of Georgia’s ($3.26) averages for a gallon of regular, unleaded gasoline increased 7 cents from last week. Florida's average of $3.41 jumped 18 cents from a week ago.
In Gainesville, the average price of a gallon of regular on Monday was $3.43, up from last Monday’s average of $3.31, according to the website GasBuddy.com.