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Sudden Surge in Gas Prices Stuns South Florida Drivers

Posted on: Sunday, 19 March 2006, 18:00 CST

By Michael Turnbell, South Florida Sun-Sentinel

Mar. 18--South Florida drivers experienced sticker shock Friday as average gasoline prices jumped as much as 8 cents a gallon overnight.

The average per-gallon price of regular unleaded was $2.51 in Fort Lauderdale, according to AAA's daily fuel gauge report. That was 8 cents higher than Thursday and 14 cents more than a month ago.

In Palm Beach County, average prices stood at $2.55 a gallon Friday compared with $2.51 a day earlier and $2.46 last month.

This week's spike was tough to stomach for some drivers.

Angela Hudson, 33, said she's angry but not ready to trade her SUV for a smaller car.

"I'm not going to let them dictate what I should buy," said Hudson, who paid $2.82 a gallon for premium Friday at a Congress Avenue Shell station in Delray Beach.

"There's no need for the prices to be sky high. Your paycheck is not increasing, it's still the same," she said.

A forecast from the government's Energy Information Administration shows average prices nationwide will hit $2.57 a gallon in May.

"I don't expect prices to continue increasing at this rate," said Michael Burdette, senior analyst with the Energy Information Administration. "You'll see a run-up for a few weeks, then a drop back."

AAA spokesman Kevin Bakewell said, "Gas prices are definitely on the rise, but it's nowhere near record levels."

Prices topped $3 last fall before tumbling as prices of crude oil, the raw material for making gasoline, fell, and as gasoline supplies improved thanks to more refinery output in the hurricane-ravaged Gulf region and a flood of imports.

Oil industry experts point to a combination of factors for this week's spike -- nuclear concerns about Iran, tensions in other oil-producing hotspots like Nigeria and the start of the spring travel season when more people hit the road.

Another reason: A number of U.S. refineries thrust into overdrive after last year's hurricanes are now shut down for maintenance postponed from last fall.

Harriet Johnson Brackey and Edward Sifuentes contributed to this report.

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Copyright (c) 2006, South Florida Sun-Sentinel

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Source: South Florida Sun-Sentinel

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