PALM BEACH COUNTY, Fla. — Gas prices have been on a roller coaster for the last week in South Florida and prices are now going up.
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On Tuesday prices appeared to be topping out at $3.19 a gallon after dipping as low as $2.79 in some places over the weekend.
Those who follow the fuel industry call it "price cycling."
"It's kind of this price cycling that takes place every two weeks, or so, across much of Florida, this doesn't happen everywhere," said Patrick De Haan of Gas Buddy.
He explains many stations try to lure in more customers by lowering gas prices and other stations usually follow. "The stations undercut each other, but there's only so much cutting you can do as a business," De Haan said.
The next downward cycle he said might happen in the next week or so.
"When stations get down to, at, or below their replacement costs, that's when we start to see stations kind of ratcheting back up," De Haan explained, "resetting to where prices maybe should have been all along and then stations start the undercutting game again."
According to American Automobile Association, in Florida, the statewide average for unleaded gas is $3.07 a gallon.
Below is pricing in various counties:
- Palm Beach County: $3.19
- Martin County: $3.13
- St. Lucie County: $3.08
- Indian River County: $3.11
- Okeechobee County: $3.12