WEST PALM BEACH, Fla. (CBS12) — Florida gas prices are starting to decrease after reaching their highest levels in nearly four years the week prior, according to AAA.

“The fuel market remains headline-driven and extremely volatile, making it difficult to predict what drivers will pay at the pump this summer,” said Mark Jenkins, spokesman for AAA – The Auto Club Group.

The AAA report states that the state average surged by 20 cents per gallon, hitting a peak of $4.50 on Thursday, marking the highest daily average since July 2022.

AAA says that this was driven by increases in the futures market, including a 21% rise in oil prices and a 59-cent jump in wholesale gasoline.

However, AAA reported that over the weekend, prices began to ease, with the state average dropping 9 cents to $4.43 per gallon by Sunday. This current price is still 10 cents higher than last week, 34 cents more than a month ago, and $1.48 greater than this time last year.

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According to AAA, the recent market fluctuations were influenced by renewed optimism surrounding negotiations between the U.S. and Iran. Reports suggesting a potential gradual reopening of the Strait of Hormuz contributed to a 6% drop in prices. Since oil prices account for about half of gasoline prices, these changes directly impact what drivers pay at the pump.

In terms of regional prices, AAA said that the most expensive metro areas in Florida include West Palm Beach-Boca Raton ($4.58), Naples ($4.52), and Gainesville ($4.51). On the other hand, the least expensive markets are Pensacola ($4.12), Crestview-Fort Walton Beach ($4.15), and Panama City ($4.17).