As Miami drivers prepare for Labor Day travel, they might want to add a few dollars to their trip budgets, with gas prices in the Miami metropolitan area rising 3.5 cents per gallon over the past week.
The new week begins with regular gasoline averaging $3.94 per gallon in Miami, 2.8 cents higher than a month ago and 89 cents higher than a year ago.
According to GasBuddy price reports, the cheapest station in Miami was selling regular gasoline for $3.51 per gallon on Sunday, while the highest reported price was $5.79 per gallon. That’s also what drivers were paying at both Key Biscayne gas stations as of Sunday.
Nationally, prices moved in the opposite direction. The average price of gasoline fell 3.2 cents per gallon over the past week to $4.01.
“Over the weekend, the Trump administration struck a major deal with Venezuela, a signal that the White House remains concerned about elevated fuel prices, though in reality, any benefits from increased Venezuelan output will take years to fully materialize and are unlikely to move the needle in the near term,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“The factors with the most immediate impact on where prices go from here remain the ongoing developments between the U.S. and Iran and continued Ukrainian attacks on Russian oil refineries, both of which continue to exert outsized influence on global fuel markets.”
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