Gas prices in Florida surge 40 cents, new 4-year high: AAA
TAMPA, Fla. - According to AAA, a 13% increase in crude oil prices and a 46-cent gain in gasoline futures triggered the latest round of rising prices.
The backstory:
Last week's prices set a new four-year high. AAA says gas prices in Florida surged 40 cents per gallon last week, going from $3.94/g on Monday to $4.34/g on Sunday. Sunday's state average is the highest daily average price since July 2022.
Based on additional moves in the futures market, a price hike could happen again, but AAA predicts that it will not be quite as dramatic as a week ago.
Dig deeper:
Experts say since the Iranian conflict, Florida's average price rose $1.46 per gallon, going from $2.88 per gallon to $4.34/g. That adds $22 to the cost for an average-sized tank of gas.
"Big gains in oil and gasoline futures contributed to the jump at the pump last week," said Mark Jenkins, spokesman for AAA - The Auto Club Group. "The ongoing Iranian conflict and uncertainty tied to the closure of the Straight of Hormuz is keeping upward pressure on fuel prices with no clear indication of letting up."
The most expensive metro markets for gas are:
- West Palm Beach-Boca Raton ($4.50)
- Naples ($4.41)
- Gainesville ($4.40)
The least expensive metro markets are:
- Pensacola ($3.96)
- Crestview-Fort Walton Beach ($3.99)
- Panama City ($4.00)
The Source: This story was written based on information from AAA.