According to AAA, the U.S. price for crude oil rose nearly $3 per barrel (4%) last week. Oil analysts attribute the gains to expectations that voluntary production cuts, agreed to by OPEC and its allies, would contribute to tightness in the oil market during the summer driving season. Gas prices also received some upward pressure on strong implied demand numbers, in a weekly report released by the Energy Information Administration.
Regional Prices
- Most expensive metro markets – West Palm Beach-Boca Raton ($3.45), Naples ($3.34), Miami ($3.33)
- Least expensive metro markets – Crestview-Fort Walton Beach ($3.05), Pensacola ($3.07), Panama City ($3.07)
