MANATEE Experts believe prices at the pump in the Bradenton-Sarasota market could jump as much as 20 cents through the weekend.
Retail fuel prices have never cost more at this time of the year yet recession-battered motorists can expect those digits to only climb higher.
A refinery fire in Washington state and maintenance shutdowns at refineries along the Eastern seaboard are significantly inflating prices throughout the country.
The West Coast has seen gas prices balloon 30 to 45 cents per gallon this week. Florida is looking at between a 10 to 20 cent jump in the coming days as well, said Gregg Laskoski, a senior petroleum analyst with GasBuddy.com.
“Many markets nationwide will see significant price hikes,” he said. “It won’t continue at such an aggressive pace for long, but after this period, we can expect to see incremental price increases through spring.”
Despite lackluster demand, the price of crude oil has risen more than $5 during the past week alone, hovering at about $105 a barrel for much of Wednesday.
Those increases will be passed along to wholesale and ultimately retail customers.
The average price for a gallon of regular unleaded gasoline in Florida is $3.67, up four cents from a week ago, 20 cents from a month ago and nearly 53 cents from the same time last year, according to AAA Auto Club South.
Gas prices in the Sunshine State are on pace this month to post the highest average for any February on record, the travel agency said.
Local pain at the pump has
been similar, with a current average of $3.69 for regular unleaded fuel.
That price is up a penny over the week, 49 cents over the month and 54 cents over the year.
Fuel prices rise every spring as refiners make the switch to their summer blends, which are more expensive to produce because of the additives designed to curb pollution.
During that process, many refiners also must close for temporary maintenance leaving shortages when demand approaches its peak for summer driving season.
Tension in the Middle East and economic turmoil in Greece also has played a significant role.
Stricter sanctions placed on Iran to limit the country’s nuclear efforts have sent refineries into a mode of caution, likely resulting in higher markups, according to AAA.
As a result, retail gas prices are forecast to top $4 a gallon by April, AAA spokeswoman Jessica Brady said.
“These setbacks are just adding to the already high gas prices,” Brady said. “With the way things are going, we can expect prices to continue increasing well into spring and summer. The refineries have had a lot to do with that.”
Josh Salman, Herald business writer, can be reached at 941-745-7095. Twitter: @JoshSalman
