Florida gas prices expected to keep rising; Russia-Ukraine crisis could drive prices up even more
TAMPA, Fla. - You think the price of gas is high now? Just wait.
Experts are predicting what most of us don’t want to hear: the price to fill up your tank is going to cost even more soon.
"It is definitely getting much more expensive out there," AAA spokesman Mark Jenkins told FOX 13. "People are feeling the pain at the pump. Unfortunately, it seems like things are going to get a little worse before they get better."
Right now the average price for a gallon of regular in Florida is $3.49. That’s 32 cents more than it was at the beginning of the year, less than two months ago.
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"How high are prices going to go? We just don’t know. It is a very volatile market," Jenkins said. "Things are changing on a weekly basis, so it is really challenging to develop any long term forecast right now."
Jenkins says a number of factors are contributing to the rising cost.
When COVID-19 hit, people stopped traveling, so less gas was produced. Now that many restrictions have been lifted, they are on the road again. But the supply is still low, so the price is high.
Concern over the mounting conflict between Russia and the Ukraine is expected to drive prices up even further as well.
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On Tuesday, President Joe Biden warned that gas prices could go higher if Russian President Vladimir Putin chooses to invade Ukraine.
"We’re prepared to deploy all the tools and authority at our disposal to provide relief at the gas pump," Biden said in a press conference at the White House. "We are taking active steps to alleviate the pressure on our own energy markets and offset rising prices."
On top of that, the price of gas traditionally increases this time of year when spring breakers make a break for it, and families begin to vacation.