Gas prices are off to their priciest start in four years. Don’t expect relief anytime soon

So much for that expected winter decline in gas prices.

Gas prices are off to their priciest start since 2014 across the Bradenton-Sarasota region as well as Florida, rising about 10 cents a gallon during the past week.

The reason? A bullish oil market has crude at its highest level in four years for this time of year, and that has prevented the customary winter discount motorists typically see in January.

“It has been anything but a normal January for prices at the pump,” AAA spokesman Mark Jenkins said in a news release. “Normally, demand slips and supplies build.

“However, this story so far this year has been a rally in oil prices.”

That rally pushed the average cost for a gallon of regular unleaded on Monday in the Manatee-Sarasota area to $2.52, up 10 cents from a week ago and 18 cents from this time last year.

At $2.54 per gallon, the state average is the highest for this time of year since 2014, when it was $3.38.

While motorists don’t have to fear prices reaching those levels, drivers also shouldn’t look for much relief, either, in the forseeable future.

“We have not and may not see sizable relief,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices remain near multi-year highs but do show some signs of buckling, at least slightly.

“After several weeks of rising gasoline prices, it appears that perhaps the tide has turned and the bigger increases have started to fade.”

Perhaps of some solace: The Bradenton-area average of $2.52 per gallon on Monday was among the lowest in the state, trailing Jacksonville, Pensacola and The Villages, all of which were at $2.50.

Also, prices remain well below the 2017 peak of $2.73, which happened in early September as Hurricane Irma was approaching the state.

As usual, Florida’s most-expensive averages are in the southern part of the state – West Palm Beach-Boca Raton ($2.67), Miami ($2.61) and Fort Lauderdale ($2.61).

The national average on Monday was $2.54.

This story was originally published January 22, 2018 at 9:29 AM with the headline "Gas prices are off to their priciest start in four years. Don’t expect relief anytime soon."