Panicked at the pumps: Florida gasoline prices hit 8-year high, AAA says
Gas prices in Florida continued to skyrocket in the last week, climbing to the highest they’ve been in the last eight years.
The average price for a gallon of gas Monday is $3.47, according to the weekly briefing from the AAA-The Auto Club Group, for an increase of 12 cents in the last week.
That’s the highest prices have been since July 2014.
AAA officials are continuing to predict increasing prices linked to the growing costs of crude oil, from which gasoline is refined. Crude oil settled on $92 a barrel Friday, the first time since 2014 it topped the $90 mark.
Last week: Gasoline prices in Florida skyrocket by double digits in last week
AAA gas prices: Average gas prices in Florida
"Unfortunately it looks like the pain at the pump may continue to worsen, after oil prices saw another strong round of gains last week," AAA spokesman Mark Jenkins said. "The upward momentum in crude prices has been driven by geopolitical concerns related to Russia, cold weather and underwhelming global crude output.
"The price of crude rose $6 last week, which if sustained, could trigger another 10-15 cent hike at the pump in the coming weeks," he added.
The price of oil influences about half of what drivers pay at the pump, according to Jenkins.
This year alone, oil prices have climbed by 21%, representing a $16 increase that equates to 40 cents more at the pump.
Regional Prices
Most expensive metro markets – West Palm Beach-Boca Raton ($3.60), Naples ($3.51), Port St. Lucie ($3.51).
Least expensive metro markets – Crestview-Fort Walton Beach ($3.27), Pensacola ($3.29), Panama City ($3.30).
Daily gas price averages can be found at Gasprices.aaa.com.
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This article originally appeared on Tallahassee Democrat: Florida gasoline prices zoom higher, hitting 8-year high
