Gasoline Prices Rise in Jacksonville, Florida

Gasoline price signage at a fuel station in Jacksonville, Florida

News Summary

Jacksonville has experienced a rise in gasoline prices by 6.6 cents per gallon, reaching an average of $3.06. While prices are up compared to last month, they remain significantly lower than a year ago. National trends show varied increases and decreases in gas prices across different states. Circle K is offering a Fuel Day discount event to help residents manage costs, with a portion of profits benefiting the Children of Fallen Patriots Foundation.

Jacksonville has experienced a rise in gasoline prices over the past week, with an increase of 6.6 cents per gallon. As of Monday, the average price for gasoline in the city stands at $3.06 per gallon, according to a survey conducted by GasBuddy encompassing 625 stations. This marks a 10.7-cent decrease compared to the average price a month ago and a significant drop of 50.1 cents when compared to the same time last year.

Nationally, the average price for diesel fuel has seen a slight increase of less than a cent, reaching $3.50 per gallon. In contrast, trends observed indicate that just over half of U.S. states recorded an uptick in gas prices last week, while other states experienced slight declines. This fluctuation is particularly noticeable in regions known for price cycling, including parts of the Great Lakes, Texas, and Florida.

Factors contributing to these price changes include OPEC+’s recent decision to ramp up oil production starting in June. The group’s actions come as oil prices approach their lowest levels since the onset of the pandemic. Additionally, tightening gasoline inventories arising from ongoing refinery maintenance has stymied price reductions, despite the overall drop in oil prices. With refinery output set to increase soon as maintenance wraps up, gasoline supply may rise, leading the nationwide average to potentially dip below $3 per gallon.

In Florida, the state average for gas prices has dropped to $2.93 per gallon, down from $3.07 per gallon recorded last week, according to data from the U.S. Energy Information Administration (EIA). This represents a decrease of about 11 cents since the previous month and is 5% lower than the average price of $3.10 per gallon recorded a year ago. In comparison to the national average gas price, which was $3.07 last week, Florida’s prices are approximately 4.4% lower.

In Jacksonville, gas prices have increased by around 4 cents per gallon compared to the previous month but show a notable decline of nearly 50 cents when compared to this time last year. The upward trend in Jacksonville’s gas prices aligns with observations throughout the state, where various regions continue to see price adjustments.

In response to rising gasoline costs, Circle K has announced a promotional event called ‘Circle K Fuel Day,’ where discounts of up to 40 cents off per gallon will be offered on Thursday from 4 p.m. to 7 p.m. This event will be available at ten participating locations across Jacksonville. Moreover, to support the community, 10% of profits from fuel sales during this event will benefit the Children of Fallen Patriots Foundation, which provides college scholarships for children of military personnel who have lost a parent in service.

As consumers continue to navigate fluctuating fuel prices, understanding the underlying causes and potential future trends becomes crucial. While the recent spike in Jacksonville’s prices may be concerning for local drivers, the overall trend remains relatively positive with prices significantly lower than a year ago, offering some relief to residents compared to past months.