Average price of gasoline jumps by 10 cents per gallon in past week

The average price of regular unleaded gasoline in Manatee and Sarasota counties increased by an average of almost 10 cents per gallon in the past week, AAA said early Monday.

The average price Monday morning in the Bradenton-Sarasota-Venice area was $2.16, compared to $2.07 on July 17. A month ago, it was $2.17 per gallon; and a year ago it was $2.04.

Despite the hikes, the average price in the area remains below the statewide average Monday of $2.20 per gallon. A week ago, the statwide average was $2.13 per gallon; and a year ago it was $2.12 per gallon.

The hikes should continue through the rest of the summer, before prices again drop in the fall, according to AAA.

“Consumers saw a sudden swing at the pump last week, as summer demand soars and crude inventories declined,” said Mark Jenkins, AAA – The Auto Club Group. “Gas prices should trend higher through the second half of the summer, and could challenge this year’s high of $2.47 before it’s all over. Fortunately, gas prices will drop after Labor Day, as demand weakens and refiners switch to winter-blend gasoline.”

Look up Florida gas prices here.

This story was originally published July 24, 2017 at 6:52 AM with the headline "Average price of gasoline jumps by 10 cents per gallon in past week."