TAMPA, Fla. (WWSB) – Florida drivers saw a sharp spike in gas prices last week, caused by a combination of Middle East tensions and summer demand, AAA is reporting.
The state average jumped 19 cents per gallon early in the week before easing slightly through the weekend. Friday’s average price of $3.96 per gallon was the highest daily average since early June.
It is slightly lower that the national average of $4 a gallon. The average price a year ago was $3.14 a gallon.
“Geopolitical tensions can create volatility in energy markets, and that’s exactly what drivers saw last week,” as the U.S. and Iran move closer to resuming an all-out war, said Mark Jenkins, spokesman for AAA – The Auto Club Group said.
Sunday’s state average of $3.94 per gallon is 12 cents more than a week ago and 84 cents more than last year, AAA says.
Gas prices first went over $4 a gallon on average at the end of March. They dipped below that in mid-June and continued to fall as crude oil prices eased when the U.S. and Iran reached an interim deal.
Even then, President Donald Trump expressed frustration that gas prices weren’t falling as quickly as oil prices.
Affordability is likely to be a key issue for voters in the U.S. midterm elections, and higher gas and oil prices can help push up prices for groceries and other goods.
— Information from The Associated Press was used in this report.
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