ORLANDO, Fla. — Gas prices in Florida are at their highest levels in a decade after rising a whopping 44 cents per gallon last week.
On Sunday, AAA reported $3.97 as the average price per gallon. April 2012 was the last time Floridians shelled out more money than this at the pump.
“Gas prices are being dragged higher by sky high oil prices, which are surging in response to the conflict between Russia and Ukraine,” according to AAA’s Mark Jenkins.
“Sanctions and regulations against Russia has limited its ability to sell its oil on the global market, thus intensifying global supply concerns in what was already a very tight market due to the pandemic,” Jenkins explained.
The spike in U.S. oil prices last week amounted to a 26% increase. That figure, in gasoline speak, should mean a 60 cent climb at the pump, AAA said.
Simple math tells you that the 44 cent increase we saw over the past five days falls well short of that amount, so consumers should brace themselves for roughly another 15 cent spike at the service station.
AAA said if that happens, Florida gas prices will surpass the record high of $4.08 per gallon for regular unleaded gasoline, set on July 16, 2008.
“Unfortunately, more price hikes are on the way and drivers may soon begin to see record high prices at the pump,” Jenkins said.
©2022 Cox Media Group