Drivers in the Sunshine State might be feeling a little gloomy right now after gas prices in Florida jumped 17 cents over the past week — heading to their highest point since early September.
By Vance Cariaga
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Prices began to spike on Nov. 1, when the state’s month-long gas tax holiday expired, the Miami Herald reported.
The average price at the pump in Florida was $3.455 a gallon as of Nov. 7, 2022, AAA reported. That’s up from $3.286 a week ago — a gain of 5% — and $3.289 a month ago. In contrast, the national average is up by only 4 cents, or 1%, over the past week.
“With the reinstatement of Florida’s gas tax, the state average gas price has rebounded to its highest level since September 10th,” AAA spokesperson Mark Jenkins said in a statement. “Last week’s 17-cent jump amounts to about $2.55 more to fill an average-size tank of gas.”
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The good news is, Florida’s average is still well below the national average of $3.804 a gallon. And as Jenkins pointed out, Florida’s state average is $1.43 a gallon less than what drivers paid in mid-June.
“That has drivers paying $21 less for a full tank than they did in the early summer,” Jenkins said.
Florida’s gas prices moved higher due to the impact of Hurricane Ian, NBC6 reported, but that was likely caused by an increase in demand for gas nationally. The gas tax holiday quickly moved Florida’s prices lower.
Gas Prices and Midterm Elections
Meanwhile, rising gas prices nationally have taken center stage in the midterm elections. Many Republicans have blamed the Biden administration’s policies for high prices at the pump, leaving Democratic candidates having to play defense on the issue.
To help address the problem, last month President Joe Biden directed the U.S. Department of Energy to issue a notice of sale for 15 million barrels from the Strategic Petroleum Reserve to be delivered in December. The president was prepared to authorize significant additional sales in coming months if conditions require, according to a White House fact sheet.
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Last week, Biden threatened to impose a windfall profits tax on the nation’s biggest oil and gas companies as a way of lowering prices at the pump. The president accused the oil and gas industry of “war profiteering” following another robust quarter for big oil firms Exxon Mobil, Chevron and Shell, each of which produced record or near-record profits even as gasoline prices remain historically high.