Gas prices in Florida have been on a rollercoaster ride, with fluctuations that are leaving drivers wondering what to expect next.

Last week, prices dropped by 14 cents after a 10-cent increase the week before. As of Monday, the average price for regular unleaded gasoline in Florida was $3.02 per gallon, down from $3.16 a week earlier, according to data from AAA.

The recent dip in prices follows a 15-cent decrease two weeks ago, highlighting just how volatile the state’s gas prices can be. However, experts are warning that another price increase may be coming soon.

What’s Behind the Volatility in Florida Gas Prices?

Several factors are contributing to the erratic changes in gas prices across Florida. These include oil prices, changes in fuel blends, refinery maintenance, and a common phenomenon known as “price cycling.”

Oil Prices: Recently, oil prices have been trading lower, which has helped bring gas prices down. However, oil prices are still volatile and can change quickly, meaning that gas prices could rise again soon.

Summer Blend Fuel: Refineries are currently transitioning to the summer blend of gasoline, which is typically more expensive to produce. This seasonal shift in fuel production can push prices higher.

Refinery Maintenance and Outages: Seasonal maintenance at refineries and issues such as an offline refinery in Northern California are affecting the overall fuel supply. These disruptions can also contribute to price increases.

Price Cycling in Florida: GasBuddy’s head of petroleum analysis, Patrick De Haan, predicts another round of “price cycling” in Florida. This term refers to a situation where gas retailers raise prices after offering temporary discounts, often to restore their profit margins. According to De Haan, prices could go back up to $3.29 per gallon in the coming days.

How Florida Gas Prices Are Trending

As of Monday, gas prices across Florida are varying depending on the region. In Panama City, drivers are paying as little as $2.87 per gallon, while in the West Palm Beach-Boca Raton area, prices are averaging $3.18 per gallon. These price differences show just how much local factors can influence the cost of fuel.

While the recent drop in gas prices offers some relief to Florida drivers, many are concerned that prices could rise again in the near future. Experts suggest that price increases may be inevitable due to the factors mentioned above, including rising oil prices, the switch to summer fuel blends, and seasonal refinery maintenance.

What Can Drivers Expect?

For now, drivers in Florida can expect more price fluctuations over the coming weeks. Mark Jenkins, spokesman for AAA – The Auto Club Group, noted that “Florida gas prices have been erratic” and suggested that another uptick in prices could happen soon.

With the combination of lower oil prices and the seasonal transition to more expensive summer fuel, drivers will need to stay alert to changing gas prices. Keeping track of local prices using apps like GasBuddy or checking gas stations regularly can help drivers plan their trips and avoid paying too much at the pump.

Gas prices in Florida have been unpredictable, with recent price drops followed by concerns of another increase. Factors like fluctuating oil prices, seasonal fuel blends, and refinery issues all contribute to the rollercoaster ride that consumers are experiencing. While prices may dip for a short time, experts suggest that drivers should be prepared for prices to rise again. Keeping an eye on local gas prices and understanding the factors at play can help Florida residents manage their fuel costs as the summer months approach.