Tuesday, February 20, 2018
Business

Gas prices jump almost overnight at stations across Tampa Bay

Gas prices have jumped as much as 15 cents on the gallon at gas stations around Tampa Bay over the past several days.

Oil prices spiked to more than $50 a barrel after the Organization of the Petroleum Exporting Countries, or OPEC, agreed to reduce its output by more than 1 million barrels, according to an announcement from the day just after Thanksgiving. The cut will be enough to push oil supplies below demand sooner than expected.

The average price for a gallon of regular unleaded gasoline in Tampa Bay was $2.22 on Wednesday, according to AAA the Auto Group, which tracks gas prices across the country. That's up 9 cents from the average price the day before and more than 10 cents from a week ago. The average price per gallon for Florida on Wednesday was $2.28.

Some of the highest prices around Tampa Bay included $2.49 a gallon at the Sunoco at 818 W Platt St. in Tampa. But it's still possible to find gas as cheap as $1.99 gallon at some stations around town, including at the Mobil at 612 Lumsden Road in Brandon.

The average price for a gallon of gas in Tampa Bay a year ago was $1.94, according to AAA.

Gas prices have been on the rise since mid November. The sudden spike in prices last month came after a three-week decline in which prices briefly dipped below the $2 mark.

Analysts say that prices will likely continue to rise into next year.

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