Amid heat wave, Florida gas prices surge, hit new yearly high
Extreme heat in the U.S. South is pushing the price of gas to a new yearly high in the Sunshine State.
Gas prices are now more than half-a-dollar more than what drivers spent just a month ago.
On Friday, after the price-per-gallon surged 18 cents, Florida's average reached a new 2023 high of $3.84 —surpassing the previous high of $3.72 set back in April.
It's the most Floridians have spent at the pump since August of last year,.
"These surging prices have been driven by a couple of factors," said Mark Jenkins, spokesman, AAA — The Auto Club Group. "Extreme temperatures along the Gulf Coast has kept refineries from operating at full capacity. Globally, oil prices are significantly higher than a month ago, as OPEC production cuts cause global oil supplies to tighten."
Crude oil was trading just below $70 a barrel in July. Now oil is above $80 per barrel.
The unrelenting heat wave this summer has caused temps to surpass 100 degrees, which can cause breakdowns and equipment failures, Jenkins said.
Drivers should expect fluctuating prices at the pump as the peak of hurricane season nears, as the majority of the refineries in the U.S. are on the coastlines of Texas, Mississippi and Louisiana.
"Gas prices could spike just based on the mere threat of a hurricane making landfall in this region," Jenkins said. "How high gas prices go from there — and for how long — would then be based on whether those refineries suffered any long term damage."
Florida gas at a glance
Most expensive metro markets – West Palm Beach-Boca Raton ($3.96), Homosassa Springs ($3.91), Naples ($3.90)
Least expensive metro markets – Crestview-Fort Walton Beach ($3.58), Pensacola ($3.59), Panama City ($3.62)
Capital City market – Tallahassee ($3.70)
Daily gas price averages can be found at Gasprices.aaa.com
This article originally appeared on Tallahassee Democrat: Florida gas prices surge, hit new yearly high due to heat wave
