Gas prices on rise in Bradenton-Sarasota area

Average retail gasoline prices in the Bradenton-Sarasota area rose 3.4 cents per gallon in the past week, averaging $2.05 per gallon on Monday, according to GasBuddy’s daily survey of 308 gas outlets in the area. This compares with the national average that increased 3.7 cents per gallon in the past week to $2.16 gallon, according to gasoline price website GasBuddy.com.

Including the change in prices in the Bradenton-Sarasota during the past week, prices on Monday were 30.2 cents per gallon lower than the same day one year ago and are 1.1 cents per gallon higher than a month ago. The national average decreased 0.5 cents per gallon during the past month and stands 45.5 cents per gallon lower than this day one year ago.

“Gas prices are likely to get more expensive through the rest of the week as retail prices adjust to the oil price hike,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “The weekly average for oil rose about $4, which could translate to a 10-cent hike at the pump. It usually takes a couple of weeks for retail prices to fully adjust to the oil price shift. Although oil prices will continue to influence prices at the pump, AAA forecasts that retail prices should remain relatively low through the rest of the year.”

According to GasBuddy historical data, gasoline prices in the Bradenton-Sarasota area on Aug. 22 have ranged widely over the past five years, starting at $3.48 per gallon in 2011 and reaching a high of $3.65 in 2012. It was $3.47 in 2013 and $3.32 in 2014.

This story was originally published August 22, 2016 at 8:55 AM with the headline "Gas prices on rise in Bradenton-Sarasota area."