With Memorial Day now in the rear view mirror and summer underway, gas prices jumped up in the Sunshine State over the past week.
AAA released a study on Monday which showed gas prices went up seven cents in the past week. On Sunday, prices at the pump across Florida stood on average at $2.37, just a penny less than the nation average.
"Florida gas prices were brought back in line with where they probably should've been selling, based on prices in the wholesale market," said Mark Jenkins, a spokesman for AAA - The Auto Club Group, on Monday.
Prices are going up across the state with Tampa seeing an increase of 13 cents the past week. During that period, prices at the pumps in Orlando jumped up 12 cents while Jacksonville and the Fort Meyers-Cape Coral area saw 9 cent increases.
The West Palm Beach-Boca Raton area saw the highest gas prices in Florida with an average of $2.45 followed by Miami and Fort Lauderdale where the prices stood at $2.39. North Florida saw the lowest prices in the state with Jacksonville, Pensacola and Tallahassee seeing averages of $2.35 at the pump.
Jenkins sounded an optimistic note that gas prices could drop in the days to come.
"Fortunately, the retail side has leveled off, and could even be on the way back down this week,” Jenkins said. “Oil and wholesale prices weakened last week, which should allow gas prices to slip a few cents."
Jenkins also pointed to a number of factors, including President Donald Trump pulling the U.S. out of the Paris accords which could increase domestic production and international oversupply.
"This bearish sentiment has set the stage for lower prices at the pump," Jenkins insisted. "How the market responds this week will be a strong indicator for where gas prices will go this summer. As it stands right now, summer gas prices should remain at or below last year's levels."
