Gas prices are declining, even if motorists aren’t seeing much savings

With supply continuing to outpace demand as the summer driving season winds down, gas prices across the Bradenton-Sarasota region as well as Florida are drifting lower and remain well below the national average.

That said, motorists shouldn’t expect much in the way of savings at the pump in the coming week.

According to AAA’s daily fuel tracker, gas prices in the two-county region were averaging $2.24 per gallon for regular unleaded on Monday, down from $2.26 a week earlier.

The statewide average was $2.27, down a penny in the past week and far below that national average of $2.35, the highest it’s been this summer. The state average was $2.13 on July 17.

“Pump prices are moving slightly lower as refineries keep the market well supplied with gasoline,” AAA spokesman Mark Jenkins said.

Gasbuddy, which surveys more than 300 outlets in Manatee and Sarasota counties daily, reported that Manatee County stations were averaging $2.22 per gallon on Monday, with Sarasota County slightly higher at $2.25. Nearby, Pinellas County outlets were averaging $2.19, while Hillsborough County stations were at $2.21.

With supply levels 2 percent higher than they were this time a year ago and refineries running at record highs thanks to favorable profit margins, it’s unlikely motorists will see significant upticks in prices in the near future “unless oil prices rise in response to unexpected disruptions in supply due to international conflict, refinery issues or a hurricane,” Jenkins said.

Patrick DeHaan, a senior petroleum analyst for GasBuddy.com, also noted that if prices were to surge across Florida, it likely would mean a major hurricane was headed for oil production spots such as Louisiana or Texas.

The Tampa and Orlando markets have the state’s least-expensive gas at $2.21 per gallon, with Fort Myers-Cape Coral ($2.23) not far behind. The highest average belongs to West Palm Beach-Boca Raton at $2.36, with Gainesville and Miami next at $2.31.

This story was originally published August 14, 2017 at 9:44 AM with the headline "Gas prices are declining, even if motorists aren’t seeing much savings."