Home / State of Florida / Oil prices up, but maybe not for long

Oil prices up, but maybe not for long

By

Although gas prices spiked 6 cents in Florida this past week, the price may drop very soon. AAA Auto Club South Spokeswoman Jessica Brady says oil prices are falling following the death of Osama bin Laden.

“Oil dropped because of speculation that his death will actually ease back some of the turmoil over in the Middle East. If that’s the case, and if this continues, we could actually see gas prices drop a bit next week,” she says.

Brady says weaker demand from China will also help push down oil prices, although it is hard to tell exactly how much. The average price per gallon in Florida is currently $3.88. Brady says the main reason for the rise this week in Florida was the closure of 7 refineries across the Southeast because of bad weather, but the refineries are expected to open by the middle of the week.

Check Also

Robert Wallace, owner of Chestnut Hill Tree Farm spoke to members of the Senate Regulated Industries Committee Wednesday confirming the nursery's ability to meet a February 7 deadline to apply for cultivation authorization. Photo courtesy of Creative Commons Flickr.

Grower Invokes UF Partnership in Testimony, But University Says No to Pot

Robert Wallace, owner of Chestnut Hill Tree Farm and one of five nurseries licensed to produce and dispense medical marijuana in Florida, told the Florida Senate Regulated Industries Committee Wednesday that he is working with UF scientists and is on track to meet the cultivation application deadline of February 7.