TAMPA, Fla. (WWSB) – Florida gas prices went back above $4 a gallon for the first time since June 1 as rising oil prices continue to drive up the cost of gasoline.
Tensions in the Middle East intensified last week, causing oil prices to surge, said Mark Jenkins, spokesman for AAA – The Auto Club Group.
The U.S. price for crude oil has increased nearly 20% over the past two weeks, climbing from $83 per barrel to more than $100 per barrel. Crude oil accounts for more than half the price consumers pay for gasoline.
The recent increase comes on top of Florida’s ongoing pattern, where pump prices typically spike early in the week before gradually declining through the remainder of the week and weekend.
Before the latest run-up in oil prices, these cycle-driven increases generally peaked around $3.99 per gallon. With crude oil now trading above $100 per barrel, the ceiling has moved higher, pushing the state average above $4 per gallon. The state average could climb as high as $4.19 per gallon if oil prices remain elevated.
Sunday’s state average of $4.14 per gallon was:
23 cents more than a week ago19 cents more than a month ago$1.18 more than a year agoRegional Prices
Most expensive metro markets – West Palm Beach-Boca Raton ($4.30), Gainesville ($4.21), Naples ($4.19)
Least expensive metro markets – Panama City ($3.97), Pensacola ($3.97), Crestview-Fort Walton Beach ($3.98)
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