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Gas prices higher than a year ago as holiday season approaches

14 November 2017

The average price of a gallon of regular unleaded gasoline as of Sunday was $2.53 in Florida, up from $2.39 a week ago.

This marks the third week in a row that drivers have had to pay more at the pump.

"Compared to the first half of November a year ago, gas prices this November are on average 39 cents more expensive", AAA spokesperson Jeanette Casselano said. That's caused supply levels to tighten and gas prices to increase.

The hurricane season also played a role in gas prices: the highest, according to GasBuddy, was earlier this year just after Hurricane Harvey hit the Gulf Coast of Texas.

The auto club said the spike, which occurred in other state as well, was unseasonable but they had predicted last week that increases were expected because of demand issues.

"Analysts warn that oil prices could be somewhat volatile this week, as the consolidation of power in Saudi Arabia leaves speculators questioning the impacts on global oil supply". If that becomes a trend, oil prices could drift lower and take gasoline prices with them.

Motorists were paying $2.53 on average in Florida on Monday compared to $2.40 the previous week and $2.16 a year ago. But the state average has held firm for the past three days. The highest was about $2.78 per gallon in the Marquette area. The cheapest was $2.46 in Pensacola.

The price of gasoline is still going up in northern New England.

"Absent is the beloved fall at the pump that we're used to that accompanies the fall weather, but apparently this year is playing a trick on motorists", said Patrick DeHaan, head of petroleum analysis for GasBuddy. In addition, US oil exports continue to grow, putting pressure on declining USA inventories.

Gas prices higher than a year ago as holiday season approaches