Gas prices jump double digits to start 2017

The gas pumps have a bit of sticker shock today, compared with last week — and especially a year ago.

Average retail gasoline prices in the Bradenton-Sarasota area have risen 11 cents a gallon in the past week, averaging $2.40 a gallon to start out the New Year, according to GasBuddy’s daily survey of 308 area gas outlets. This compares with the national average that increased 5.6 cents per gallon in the last week to $2.34 a gallon.

Local prices are 43.7 cents a gallon higher than the same day one year ago, and 26.8 cents per gallon higher than a month ago.

“Moving into 2017, retail prices will continue to hinge on the ability of cartel countries to successfully implement production cuts,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “Retail averages will begin to increase, leading up to the summer driving season, as seasonal refinery maintenance gets underway this spring.”

Statewide, prices average $2.40 a gallon, up 8.5 cents per gallon from last week’s $2.32 a gallon.

“In 2016, motorists spent an average $2.13 per gallon on gasoline, the cheapest yearly average since 2004, and 28 cents lower than 2015,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “But if motorists made a resolution to pay less in 2017, they either broke it already or aren’t planning on driving for a while. While nearly 100,000 gas stations in the country were selling for $1.99 per gallon a year ago, fewer than 3,000 are today.”

This story was originally published January 3, 2017 at 8:30 AM with the headline "Gas prices jump double digits to start 2017."