PANAMA CITY — The average price of gas rose both nationally and statewide last week, ending the longest streak of declining rates ever recorded.
Officials with AAA-The Auto Club Group, which compiles weekly gas price reports, said prices likely will stay on the rise as spring approaches.
“Gas prices could fluctuate in the next couple of weeks but will likely increase as we move into the spring,” said AAA spokesman Mark Jenkins. “Prices usually rise between 30-50 cents in the spring, because of higher demand and refinery maintenance, then decline in autumn.”
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Despite expectations for higher prices, Jenkins does not expect prices to increase as much as in years past, with the price per gallon remaining well below $3 for the duration of 2015.
In Bay County, prices first fell below $2 per gallon at Sam’s Club on 23rd Street in mid-January. As of Monday afternoon, Sam’s Club still had the area’s lowest price, at $2.03, joined by the Exxon on Cherry Street in Parker. MP Food Mart on State 390 and Red Line at U.S. 98 and Beck Avenue were at $2.04 Monday, followed by two area gas stations offering gas at $2.05.
The 120-day streak of declining prices ended for Florida on Sunday, with the average price settling at $2.07. Over the four-month period, the average price of gas in Florida fell by about $1.25.
“Gasoline prices have finally adjusted to the plunging price of oil,” Jenkins said. “Wholesale gas prices rose last weekend, resulting in mild increases at the pump.”