Gas prices drop again in Bradenton-Sarasota, while Midwest sees spike

MANATEE -- Retail gasoline prices in the Bradenton-Sarasota area have fallen 2.1 cents per gallon in the past week, averaging $1.68 a gallon Monday, according to GasBuddy's daily survey of 308 area gas outlets.

This compares with the national average that has increased 1.9 cents per gallon in the last week to $1.71 a gallon, according to gasoline price website GasBuddy.com.

Prices are 61.7 cents per gallon lower than the same day one year ago and 16.1 cents per gallon lower than a month ago. The national average has decreased 13.1 cents per gallon during the last month and stands 58.4 cents per gallon lower than this day one year ago.

In Florida, the average cost is $1.73 a gallon, down 0.9 cents per gallon from last week's $1.74 a gallon.

"Many motorists in the Midwest saw an ugly surprise at the gas pumps last week, as prices spiked as high as 23 cents per gallon in one week's time in places," said Will Speer, a GasBuddy senior petroleum analyst. "The spike occurred on the back of news that Midwest refineries were reducing production rates due to poor economics.

"The rest of the U.S. enjoyed another week of declining gas prices," Speer said. "The largest decline in retail gas prices occurred in Southern California, as the wholesale gasoline price fell to the cheapest in the country."

More and more refineries are expected to conduct maintenance over the next month or so, which could place upward pressure on gas prices. This maintenance reduces fuel production, which can also lead to a reduction in supplies.

"It is possible we are seeing the lowest prices for the season," said Mark Jenkins, spokesman for AAA. "Oil prices also have been up, and that has had an impact on gas prices in the south. Of course, supplies are still abundant ... and nothing is guaranteed."

This story was originally published February 22, 2016 at 7:59 PM with the headline "Gas prices drop again in Bradenton-Sarasota, while Midwest sees spike ."