National average gas price breaks $5 barrier

Gas pumps

The national price per gallon of gas broke through the $5 barrier on Monday.

In the AAA’s weekly report, prices surged 15 cents per gallon since last week to $5.01 and $1.94 more than a year ago while the cost per barrel of oil eclipsed $120—nearly double last August’s price. 

“Based on the demand we’re seeing, it seems high prices have not really deterred drivers,” AAA spokesperson Andrew Gross said in a statement. “If prices stay at or above $5, we may see people start to change their daily driving habits or lifestyle, but it hasn’t happened yet.”

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In Florida, the statewide increased to $4.89 per gallon, up from last week’s $4.76 and last year’s price of $2.97. Florida ranks 28th in the nation for highest average per gallon.

In Gainesville, prices went from $4.79 last week to $4.90. 

According to GasBuddy.com, the following locations have the best prices in Alachua County:

  • $4.71 at Circle K, 19531 NW US Hwy 441, High Springs
  • $4.77 at CITGO, 18501 NW County Road 236, High Springs
  • $4.79 at Pure, 405 NE 1st, High Springs
  • $4.83 at Circle K, 16130 NW US Hwy 441, Gainesville 
  • $4.83 at Sunoco, 528 NW 8th Ave., Gainesville
  • $4.84 at Murphy Express, 6323 NW 13th St., Gainesville

According to the Energy Information Administration’s (EIA) latest data, total domestic gasoline stocks decreased by 800,000 barrels of oil (bbl) to 218.2 million bbl last week. Meanwhile, demand for gasoline grew from 8.98 million barrels per day (b/d)  to 9.2 million b/d as drivers continue to fuel up for the summer driving season. 

The summer months are traditionally a time when gas demand increases and, coupled with increasing crude oil prices, the price of gas will likely remain high for the near future, according to the AAA release.

Quick Stats

The nation’s top 10 largest weekly increases: West Virginia (+28 cents), Montana (+27 cents), Colorado (+25 cents), Kansas (+23 cents), Virginia (+23 cents), Missouri (+22 cents), North Dakota (+22 cents), Indiana (+22 cents), Ohio (+22 cents) and New Mexico (+21 cents).

The nation’s top 10 most expensive markets: The nation’s top 10 most expensive markets: California ($6.43), Nevada ($5.65), Alaska ($5.56), Illinois ($5.56), Washington ($5.54), Oregon ($5.53), Hawaii ($5.53), Arizona ($5.31), Washington, D.C. ($5.26) and Indiana ($5.05).

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