May 17, 2022

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Gas prices in Florida reach a new high

Gas prices in Florida reach a new high

Gas prices in Florida on Thursday soared to a new record, as people woke up in the Sunshine State and the average cost was $4,398, Wednesday’s average was $4,321 and a week ago it was $4,176, the national average was slightly higher at $4.41. On Wednesday, the WFLA reported, Agriculture and Consumer Services Commissioner Nikki Fried passed an emergency law Wednesday morning that she said would increase gas supplies across the state and help lower prices. The stations sell gasoline containing 15% denatured anhydrous ethanol, or E15, which is usually sold in the winter months. This would immediately save Florida residents 10 cents per gallon at the pump, Fried said. “This rule allows Florida suppliers to use additional fuels to secure a consistent and affordable gas supply,” she said in April, as lower gas prices helped slow overall inflation. Nationally, average prices for a gallon of gas fell to $4.10 in April, according to AAA, after rising to $4.32 in March. But since then, gas prices have jumped to a record $4.40 a gallon, and the government said on Wednesday that consumer prices jumped 8.3% last month from a year ago. That was less than an 8.5% year-over-year increase in March, the highest level since 1981. On a monthly basis, prices rose 0.3% from March to April, the smallest rise in eight months. “There is still a long way to go before inflation returns to more acceptable levels,” said Eric Winograd, US economist at asset management firm AB. Even if it moderates, inflation is likely to remain high through 2023, economists say, leaving many Americans burdened with price increases that have outpaced wage increases. The Associated Press contributes to this article

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On Thursday, gas prices in Florida rose to a new record.

People in the Sunshine State woke up to an average cost of $4,398.

The average on Wednesday was $4,321 and a week ago it was $4,176.

The national average is slightly higher at $4.41.

WFLA Reports On Wednesday, Agriculture and Consumer Services Commissioner Nikki Fried issued an emergency law Wednesday morning saying it would increase gas supplies across the state and help lower prices.

The rule, which Fried announced at a press conference in Tampa, would allow gas stations to sell gasoline containing 15% denatured anhydrous ethanol, or E15, which is typically sold in the winter months. This would immediately save Florida residents 10 cents per gallon at the pump, Fried said.

“This rule allows Florida suppliers to use additional fuels to secure a consistent and affordable gas supply,” she said.

In April, falling gas prices helped slow general inflation. Nationally, average prices for a gallon of gas fell to $4.10 in April, according to AAA, after rising to $4.32 in March. But since then, gas prices have jumped to a record high of $4.40 a gallon.

On Wednesday, the government said consumer prices jumped 8.3% last month compared to a year ago. That was less than an 8.5% year-on-year increase in March, the highest level since 1981. On a monthly basis, prices rose 0.3% from March to April, the smallest rise in eight months.

These price jumps “show that there is still a long way to go before inflation returns to more acceptable levels,” said Eric Winograd, US economist at AB Asset Management.

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Economists say that even if it moderates, inflation is likely to remain high through 2023, leaving many Americans burdened with price increases that have outpaced wage increases.

The Associated Press contributes to this article