May 19, 2026 • 7 mins
Ryan and Dana talk with Head of Petroleum Analysis for GasBuddy Patrick De Haan about rising gas prices across Florida and when we might see another dip.
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Speaker 1 (00:00):
So Ryan Gorman Show Podcast presented by Farah and Farah
Accident Attorney's Tampa.
Speaker 2 (00:07):
But let's bring in the head of petroleum analysis for
gas Buddy. Patrick Dehan is back with us. Of course,
make sure you have the Gas Buddy app on your
phone to save yourself some money and you can follow
Patrick for all the latest gas Buddy guy on x SO. Patrick,
let's start with what we're seeing with this latest price
cycle here in Florida. After a stretch of prices coming down,
(00:30):
big spike over the past twenty four hours.
Speaker 3 (00:33):
Yeah, it was a real big spike right back up
to three fifty nine. And that's where prices were. If
you blink, you maybe have missed it. Fifty nine, Yeah,
four fifty nine exactly, we saw that.
Speaker 1 (00:44):
Yeah.
Speaker 3 (00:45):
And even I'm tripping up over some of these numbers here.
It's it's it's hard to keep it all up. We
saw that jump to four fifty nine briefly last week
on Tuesday, they shot up, but my they quickly came
back down, went up from about four thirty two on
average to fifty nine at most stations, and then they
(01:05):
plunged all the way back down very quickly at about
four fifteen an hour back up to about four to
fifty nine at most stations. So these are the price
cycles at work. That four to fifty nine number that
we saw last week was maybe a little too high
in light of the fact that oil plunged it nearly
the same time in the second half of last week.
That's what allowed stations to simply drive those prices right
(01:28):
back down. There was a drop in the price of
oil as President Trump made his trip to China. There
was a lot of hope in the oil market that
potentially Trump could pressure China to get Iran to reopen
the Straight. Well, that didn't happen. Oil prices back up,
and that's what led to yesterday's spike back up to
again four to fifty nine a gallon. But if you
(01:50):
missed out, you know, the wholesale clubs generally hold their
prices lower for longer. But don't worry. Prices now that
we're going into the weekend, they should trickle down again
another few cents every day or so.
Speaker 2 (02:01):
The Midwest seems to be getting hit pretty hard right now.
What's behind that? Like, I find it fascinating. We've had moments,
and we've talked about this before where Florida was way
ahead of the national average. Now where either right in
line with it or a little blow it, depending on
where you are. And the Midwest seems to have been
surging with their prices recently.
Speaker 3 (02:24):
Yeah, you know, Florida is back below the national average
this morning. I think the first six weeks of the
Iran attacks, you guys want way above it. Along with
all the coastal areas. You're at four forty three state
wide this morning. The Great Lakes got hit with a
lot of refining issues the last couple of weeks. In fact,
all the Great Lake states Wisconsin, Illinois, Indiana, Michigan, Ohio
all set new records for average diesel price. They are
(02:48):
starting to see some relief now. Wild thing is is
you look at some of these states like Georgia and
Indiana and Kentucky. Those are the three states. If you're
hitting the road this Memorial Day and you're driving out
of the state, be aware of cheaper prices quite a bit.
If you're heading north to Georgia, the state wide average
there three ninety seven, Florida at four forty three. Yeah,
(03:08):
if you're headed up to the Great Lakes for whatever
odd reason, trying to get out of a heat. Indiana's
average they have two gas tax holidays right now four
oh ninety gallon if you cross the border to where
I'm in Illinois, five to oh five. I don't think
you've ever seen a dollar a gallon difference between two
neighboring states. But all this to say, we're still seeing
the Strait of Hormuz close. So every week to two weeks,
(03:30):
Tampa's going to see those price cycles again, and they
may be they may be to progressively higher amounts the
longer the straight remains closed.
Speaker 2 (03:38):
We're joined by the head of Petroleum Analysis for Gas
Buddy Patrick de Haan. Where are we at with our
global oil supply? The strait has been effectively closed for
a long time. Now. I know we're pumping out a
lot of oil here in the US, but you know
we're not just serving the US market obviously, So what
(03:59):
are we seeing from I must supply side and also
the strategic reserves. You continue to see countries including the
you as tap those. I don't know how much longer
that can last.
Speaker 3 (04:09):
For Yeah, there's a lot of depletion happening to global
oil inventories, and it's pretty rapid in fact, just in
the last week, according to the Apartment of Energy, the
most significant weekly decline in this strategic in our strategic
patroleum reserve, it fell nearly ten million barrels, meaning that
(04:31):
we're pumping out it over a million and a half
barrels a day coming out of our reserves. And it's
not done much to the price of oil. It is
kind of like trying to replace a water main with
a paper straw. Though, so global inventory is declining as well.
Japan releasing a lot from their SPR but the strait
still closed, and that is eighteen million barrels a day.
(04:52):
So you know, even if we're releasing a million and
a half, it doesn't really it doesn't really come close
to comparison to that eighteen million barrels that are being
So my worry is that probably by Midsummer our spr
will drop under three hundred million barrels. We've still got
probably one hundred and forty million to release. It's not
going to put us in a great state of things.
(05:13):
Not only that, but as I mentioned early on, when
you know Florida prices surged way above everyone else that
you guys are essentially competing for barrels that are being
exported globally. In the last three weeks, the US has
seen over a third of a billion barrels combined of
oil and refined products leaving our country going somewhere else
(05:36):
in the world, and so our inventories are now running
quite a bit below normal.
Speaker 2 (05:41):
And last thing for you, real quick, there's only so
much oil we can produce here, right. It's not as
simple as snap and a finger and saying drill, baby, drill,
We're just going to ramp this up exactly.
Speaker 3 (05:53):
The US is long operated at capacity. Our oil producers
respond to prices when they're high, and there's no more
spare capacity, so there's not really any ability to raise output.
And to your point, you know there's a lot of
folks saying, well, just raise output. Well, it takes years
to drill to get that oil to the market. It's
a it's kind of like building a skyscraper. It doesn't
(06:15):
just happen overnight. You've got a lot of R and
D and then and then bring it to the market.
That's that's probably a three to four year difference. And
Venezuela can't fill in the gap fast enough. They're kind
of a drop in the bucket. Compared to what we're
losing through this straad as well. So there's really nowhere
to get this slack from. And the longer this persists,
I mean, by July four, it could be talking gas
(06:37):
could be well over five dollars, and it could hit
new records, just depending on how long the thread continues
to be closed.
Speaker 2 (06:42):
All right. They had a petroleum analysis for Gas Buddy
Patrick Tohan. Make sure you had that Gas Buddy app
on your phone to save yourself some money to make
informed decisions when you're getting gas, and you can follow
Patrick on X for more Gas Buddy guy. Patrick always
appreciate time and insight. Thanks so much.
Speaker 3 (06:58):
Thanks Ryan, you bet make
Speaker 1 (07:00):
The Ryan Gorman Show podcast up were set on iHeartRadio,
presented by VERA and VERA Accident Attorneys, Tampa, m
So Ryan Gorman Show Podcast presented by Farah and Farah
Accident Attorney's Tampa.
Speaker 2 (00:07):
But let's bring in the head of petroleum analysis for
gas Buddy. Patrick Dehan is back with us. Of course,
make sure you have the Gas Buddy app on your
phone to save yourself some money and you can follow
Patrick for all the latest gas Buddy guy on x SO. Patrick,
let's start with what we're seeing with this latest price
cycle here in Florida. After a stretch of prices coming down,
(00:30):
big spike over the past twenty four hours.
Speaker 3 (00:33):
Yeah, it was a real big spike right back up
to three fifty nine. And that's where prices were. If
you blink, you maybe have missed it. Fifty nine, Yeah,
four fifty nine exactly, we saw that.
Speaker 1 (00:44):
Yeah.
Speaker 3 (00:45):
And even I'm tripping up over some of these numbers here.
It's it's it's hard to keep it all up. We
saw that jump to four fifty nine briefly last week
on Tuesday, they shot up, but my they quickly came
back down, went up from about four thirty two on
average to fifty nine at most stations, and then they
(01:05):
plunged all the way back down very quickly at about
four fifteen an hour back up to about four to
fifty nine at most stations. So these are the price
cycles at work. That four to fifty nine number that
we saw last week was maybe a little too high
in light of the fact that oil plunged it nearly
the same time in the second half of last week.
That's what allowed stations to simply drive those prices right
(01:28):
back down. There was a drop in the price of
oil as President Trump made his trip to China. There
was a lot of hope in the oil market that
potentially Trump could pressure China to get Iran to reopen
the Straight. Well, that didn't happen. Oil prices back up,
and that's what led to yesterday's spike back up to
again four to fifty nine a gallon. But if you
(01:50):
missed out, you know, the wholesale clubs generally hold their
prices lower for longer. But don't worry. Prices now that
we're going into the weekend, they should trickle down again
another few cents every day or so.
Speaker 2 (02:01):
The Midwest seems to be getting hit pretty hard right now.
What's behind that? Like, I find it fascinating. We've had moments,
and we've talked about this before where Florida was way
ahead of the national average. Now where either right in
line with it or a little blow it, depending on
where you are. And the Midwest seems to have been
surging with their prices recently.
Speaker 3 (02:24):
Yeah, you know, Florida is back below the national average
this morning. I think the first six weeks of the
Iran attacks, you guys want way above it. Along with
all the coastal areas. You're at four forty three state
wide this morning. The Great Lakes got hit with a
lot of refining issues the last couple of weeks. In fact,
all the Great Lake states Wisconsin, Illinois, Indiana, Michigan, Ohio
all set new records for average diesel price. They are
(02:48):
starting to see some relief now. Wild thing is is
you look at some of these states like Georgia and
Indiana and Kentucky. Those are the three states. If you're
hitting the road this Memorial Day and you're driving out
of the state, be aware of cheaper prices quite a bit.
If you're heading north to Georgia, the state wide average
there three ninety seven, Florida at four forty three. Yeah,
(03:08):
if you're headed up to the Great Lakes for whatever
odd reason, trying to get out of a heat. Indiana's
average they have two gas tax holidays right now four
oh ninety gallon if you cross the border to where
I'm in Illinois, five to oh five. I don't think
you've ever seen a dollar a gallon difference between two
neighboring states. But all this to say, we're still seeing
the Strait of Hormuz close. So every week to two weeks,
(03:30):
Tampa's going to see those price cycles again, and they
may be they may be to progressively higher amounts the
longer the straight remains closed.
Speaker 2 (03:38):
We're joined by the head of Petroleum Analysis for Gas
Buddy Patrick de Haan. Where are we at with our
global oil supply? The strait has been effectively closed for
a long time. Now. I know we're pumping out a
lot of oil here in the US, but you know
we're not just serving the US market obviously, So what
(03:59):
are we seeing from I must supply side and also
the strategic reserves. You continue to see countries including the
you as tap those. I don't know how much longer
that can last.
Speaker 3 (04:09):
For Yeah, there's a lot of depletion happening to global
oil inventories, and it's pretty rapid in fact, just in
the last week, according to the Apartment of Energy, the
most significant weekly decline in this strategic in our strategic
patroleum reserve, it fell nearly ten million barrels, meaning that
(04:31):
we're pumping out it over a million and a half
barrels a day coming out of our reserves. And it's
not done much to the price of oil. It is
kind of like trying to replace a water main with
a paper straw. Though, so global inventory is declining as well.
Japan releasing a lot from their SPR but the strait
still closed, and that is eighteen million barrels a day.
(04:52):
So you know, even if we're releasing a million and
a half, it doesn't really it doesn't really come close
to comparison to that eighteen million barrels that are being
So my worry is that probably by Midsummer our spr
will drop under three hundred million barrels. We've still got
probably one hundred and forty million to release. It's not
going to put us in a great state of things.
(05:13):
Not only that, but as I mentioned early on, when
you know Florida prices surged way above everyone else that
you guys are essentially competing for barrels that are being
exported globally. In the last three weeks, the US has
seen over a third of a billion barrels combined of
oil and refined products leaving our country going somewhere else
(05:36):
in the world, and so our inventories are now running
quite a bit below normal.
Speaker 2 (05:41):
And last thing for you, real quick, there's only so
much oil we can produce here, right. It's not as
simple as snap and a finger and saying drill, baby, drill,
We're just going to ramp this up exactly.
Speaker 3 (05:53):
The US is long operated at capacity. Our oil producers
respond to prices when they're high, and there's no more
spare capacity, so there's not really any ability to raise output.
And to your point, you know there's a lot of
folks saying, well, just raise output. Well, it takes years
to drill to get that oil to the market. It's
a it's kind of like building a skyscraper. It doesn't
(06:15):
just happen overnight. You've got a lot of R and
D and then and then bring it to the market.
That's that's probably a three to four year difference. And
Venezuela can't fill in the gap fast enough. They're kind
of a drop in the bucket. Compared to what we're
losing through this straad as well. So there's really nowhere
to get this slack from. And the longer this persists,
I mean, by July four, it could be talking gas
(06:37):
could be well over five dollars, and it could hit
new records, just depending on how long the thread continues
to be closed.
Speaker 2 (06:42):
All right. They had a petroleum analysis for Gas Buddy
Patrick Tohan. Make sure you had that Gas Buddy app
on your phone to save yourself some money to make
informed decisions when you're getting gas, and you can follow
Patrick on X for more Gas Buddy guy. Patrick always
appreciate time and insight. Thanks so much.
Speaker 3 (06:58):
Thanks Ryan, you bet make
Speaker 1 (07:00):
The Ryan Gorman Show podcast up were set on iHeartRadio,
presented by VERA and VERA Accident Attorneys, Tampa, m
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