Ida likely to drive up Florida gas prices

(John Raoux, Copyright 2019 The Associated Press. All rights reserved)

FORT LAUDERDALE, Fla. – Hurricane Ida was one of the most powerful storms to ever hit the mainland United States, and while the damage to Louisiana is of the utmost concern, we will feel the impact at the gas pump here in Florida.

Ida made landfall in a Gulf Coast region home to oil rigs, refineries, terminals and ports that are critical to our fuel supply chain. Most of Florida’s gasoline sails in from refineries in Texas, Louisiana and Mississippi.

“Drivers will almost assuredly see gas prices rise this week, because of Hurricane Ida’s effects on the Gulf Coast,” said Mark Jenkins, a spokesman for the American Automobile Association. “Based on overnight movement in the futures market, a 10-20 cent jump at the pump is not out of the question. Where gas prices go from here will depend on the extent of the damage and how long it will take for fuel production and transportation lines to return to normal.”

AAA says that refineries in Louisiana, Mississippi, Texas and Alabama account for “more than 45% of the nation’s capacity for refining crude oil into gasoline and other important products. Additionally, the region is home to nearly 2,000 offshore oil platforms, which accounts for 17% of the nation’s crude oil production.”

Florida’s average gas price has steadily dropped since hitting a 2021 high of $3.03 for a gallon of regular unleaded gasoline on Aug. 5. AAA had predicted a continued price decrease because of COVID-19 concerns and the end of summer travel, but Ida appears poised to change that.

On Monday morning, Florida’s average price for a gallon of regular unleaded gas was $2.94, which is less than the national average of $3.15 and lower than the $2.98 price in Florida at the start of last week.

South Florida’s gas prices have been sitting between the state and national averages.

Across the region, the average prices are as follows on Monday morning:

  • Miami-Dade County: $2.99
  • Broward County: $3.01
  • Monroe County: $3.13
  • Palm Beach County: $3.12

For more information on Florida gas prices, click here.