Down, down, down … up — the gas price trend

AAA notes why it’ll continue

  • AAA's Gas Price Tracker as of Tuesday, showing Osceola's average regular unleaded gas price of $3.3307 per gallon, just above the Florida average, which is just above the national average. AAA GAS PRICES
    AAA's Gas Price Tracker as of Tuesday, showing Osceola's average regular unleaded gas price of $3.3307 per gallon, just above the Florida average, which is just above the national average. AAA GAS PRICES

    Some children like playing with yo-yos, but drivers don’t like the up-and-down-on-a-string action at that gas pumps.

    Florida gas prices declined 9 cents last week. The state average fell from $3.23 per gallon last Sunday to $3.14 per gallon yesterday. But, all that did was wipe out a sharp increase felt on Monday, Feb. 5, just as gas prices were dipping below $3 locally. 

    Still, Florida's average gas prices fell a total of 13 cents per gallon from Feb. 1-12, to $3.14 per gallon, AAA reports.

    So, what next? More of the same, it seems.

    "Florida gas prices have recently followed a cycle where they decline for about two weeks, then shoot back up again," said Mark Jenkins, spokesman, AAA-The Auto Club Group. "That trend, plus a recent uptick in futures prices, will likely lead to a jump at the pump."

    And, true to Jenkins’ word, prices shot up midday Monday. Officially the daily increase was about 13 cents statewide, but retail stations that were near $3 during the morning drive time were $3.30-$3.35 by the evening.

    Crude oil and gasoline futures prices logged strong gains last week. The U.S. price for crude oil rose nearly $5, or 6%, per barrel last week. Gasoline futures rose nearly 20 cents per gallon. The increases were attributed to reduced refinery activity, as refineries begin scheduled seasonal maintenance and prepare to switch from winter to summer blend gasoline. 

    Here’s an idea of the volatility of gas prices in the Osceola County and Orlando areas: while area prices averaged $3.06 per gallon of regular unleaded — and it jumped around some more this week — it was $3.21 a week ago, $3.11 a month ago, and $3.33 a week ago. 

    So, if you see prices jump on a particular day — 20 to 25 cents has been the norm — the same norm is to watch it fall a couple cents per day after the jump. So, if you can wait a few days after the jump, your gas can be just a bit cheaper.