Florida drivers are seeing higher prices at the pump as global oil markets react to escalating tensions in the Middle East.<\/p>\n
The state\u2019s average price for gasoline spiked last week. By Sunday, the average reached $3.46 per gallon – – the most expensive daily average since<\/a> August 2024. Patrick De Haan, head of petroleum analysis at GasBuddy, said prices are expected to climb even further.<\/p>\n \u201cIt will likely start to accelerate again. Oil prices jumping significantly means that racks where gas stations send their tanker trucks will also likely start raising their price,\u201d he said.<\/p>\n De Haan said the increases are tied to the conflict involving Iran. Iran recently closed<\/a> the Strait of Hormuz following attacks by the United States and Israel. About 20% of the world\u2019s oil supply moves through the strait on tankers from Saudi Arabia, Iran, Iraq, the United Arab Emirates, Kuwait and Qatar. If disruptions continue, De Haan warned diesel prices could climb sharply.<\/p>\n \u201cThat would put diesel on the trajectory to reach $5 a gallon. That is now looking like a very strong possibility,\u201d he said. \u201cGas prices will likely continue or re-accelerate this week. I\u2019m not yet foreseeing the national average hitting $4 a gallon, but that could happen depending on how the week unfolds.\u201d<\/p>\n