The average price of a gallon of gas in Florida increased by 16 cents during the past week, according to the latest report from AAA Auto Club Group.
Florida metro areas with the highest price averages were West Palm Beach – Boca Raton ($3.34), Naples ($3.22), Fort Lauderdale ($3.21). Metro areas with lowest averages were Crestview-Fort Walton Beach ($2.89), Panama City ($2.91), Pensacola ($2.93).
The state average jumped from $2.99 per gallon on Monday to $3.18 by the middle of the week. From there, pump prices eased though the weekend, with the state average sliding to $3.15 per gallon on Sunday.
“Despite declining through the weekend, gas prices are facing renewed upward pressure, after crude oil and gasoline futures shot up late last week,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “This could contribute to higher prices at the pump this week or next. How much higher remains to be seen.”
According to AAA, the U.S. price of crude oil settled at $78.01 per barrel. That’s $4.60 per barrel more than the week before and the highest daily settlement since mid-November. The 5% gain over the past two weeks comes amid refinery issues and the ongoing conflict in the Red Sea. Last week, oil prices rose $2 after a fire at a Russian refinery, stoking global fuel supply concerns. The refinery reportedly supplies fuel for Turkey, China, Malaysia and Singapore. Later in the week, oil prices rose again after a British tanker was struck by a missile and set on fire in the Gulf of Aiden.
