Gas prices stabilize after drastic increase

After a two-week increase that saw gas prices in the Gainesville area shoot up 39 cents, the cost at the pump went down slightly.

From July 20 through Aug. 3, the price per gallon skyrocketed from $3.48 to $3.87.

According to Thursday’s AAA report, Florida’s statewide average dropped seven cents from $3.84 to $3.77, while prices in Gainesville went down two cents from $3.87 to $3.85.

Nationally, the average cost remained at $3.82. The price remained the same despite rising oil prices reaching the mid-$80s per barrel.

“We appear to be at a fork in the road when it comes to which direction gas prices will take – up or down,” said Andrew Gross, AAA spokesperson, in a press release. “The summer heat that kept people home and suppressed refinery production has eased for now, so we have to look at the cost of oil to determine if the recent price climb is ending. More expensive oil will likely lead to higher prices, so stay tuned.”

Data from the Energy Information Administration (EIA) indicated that gas demand jumped from 8.84 to 9.30 million barrels per day (b/d) last week. Nationally, gasoline stocks decreased from 219.1 to 216.4 million barrels of crude oil (bbl). The higher demand coupled with the tighter supply has kept pump prices elevated. If gas demand remains high, along with increasing oil prices, drivers can expect higher costs at the pump.

Thursday’s national average of $3.82 is 28 cents more than a month ago but 19 cents less than last year’s $4.01.

Florida has the 23^rd most expensive price per gallon nationally after the decrease from last week’s to $3.84. Last month, gas was $3.46 per gallon and last year it was $3.72 statewide.  

In the Gainesville area, last month’s prices were at $3.46 per gallon and last year they were at $3.78.

According to gasbuddy.com, here are the lowest prices to fill up in Alachua County:   

• $3.59 at BP, 15295 NE US Highway 301, Waldo
• $3.59 at Raceway, 15330 NW US Highway 301, Waldo
• $3.59 at Pilot, 17276 US Highway 301, Waldo
• $3.69 at Murphy Express, 6323 NW 23^rd St., Gainesville
• $3.69 at Marathon, 9600 Martin Luther Highway, Gainesville
• $3.69 at Marathon, 3970 NE County Rd. 340, High Springs
• $3.71 at Circle K, 4565 NW 13^th St., Gainesville
• $3.74 at Sam’s Club, 4001 SW 30^th Pl., Gainesville
• $3.75 at Love’s Travel Stop, 5615 SE US Highway 301, Hawthorne

Quick Stats

Since last Thursday, these 10 states have seen the largest changes in their averages: Ohio (+13 cents), Arizona (+11 cents), Alaska (+7 cents), Florida (−7 cents), Wyoming (+6 cents), Idaho (+6 cents), California (+6 cents), Hawaii (+5 cents), Tennessee (−5 cents) and Kansas (+4 cents).

The nation’s top 10 most expensive markets: California ($5.09), Washington ($5.01), Hawaii ($4.77), Oregon ($4.67), Alaska ($4.46), Nevada ($4.34), Utah ($4.09), Illinois ($4.05), Idaho ($4.05) and Arizona ($3.99).