ORLANDO, Fla. \u2013 Drivers across Central Florida are feeling the impact of rising gas prices following recent U.S. attacks on Iran.<\/p>\n
According to AAA, gas prices in Florida have increased more than 80 cents in the past week and a half. Experts say global tensions are contributing to uncertainty in the oil market, which could push prices even higher in the coming weeks.<\/p>\n
Sean Snaith, director of the Institute for Economic Forecasting at the University of Central Florida College of Business, said markets reacted quickly once the conflict escalated.<\/p>\n
\u201cOnce the bombs started dropping, markets reacted immediately. Gas prices jumped,\u201d Snaith said.<\/p>\n
Snaith explained that about 20% of the world\u2019s oil supply moves through the Strait of Hormuz, a key shipping route in the Middle East. With tensions rising in the region, he said it is unclear how high prices could climb.<\/p>\n
\u201cFor you and I and people watching, it means in the short run, it\u2019s going to cost more to get to and from work, take kids to school and run errands,\u201d Snaith said.<\/p>\n
He added that higher oil prices could have ripple effects across the broader economy.<\/p>\n
\u201cIf we are talking about businesses, when there is a greater amount of uncertainty, they may delay plans for expansion. They may delay plans for additional hiring to wait and see what\u2019s going to come next,\u201d Snaith said.<\/p>\n
Mark Jenkins with AAA said Florida is among the states seeing some of the sharpest increases in fuel costs.<\/p>\n
\u201cWe are No. 4 right now in terms of looking at states that have seen price jumps in the past month,\u201d Jenkins said.<\/p>\n
Jenkins said the higher fuel costs could affect how visitors spend money while traveling to Orlando, though it is unlikely to stop most vacations altogether.<\/p>\n
\u201cNot likely expensive enough to get people to cancel their vacation plans,\u201d Jenkins said. \u201cIn many cases, what we see with rising gas prices is travelers alter their budgets, maybe spending less on shopping or dining or even staying in a less expensive hotel.\u201d<\/p>\n
At a gas station in west Orange County, some drivers said they are already feeling the financial pressure.<\/p>\n
Chris Taylor said he is watching prices closely as he fills up his diesel pickup truck.<\/p>\n
\u201cIn the long run, what\u2019s it going to do for us? We don\u2019t know what it\u2019s going to be down the road, so bite the bullet now and see what happens,\u201d Taylor said.<\/p>\n
Manuel Rodriguez, a father working two jobs, said the rising prices are hitting his family budget.<\/p>\n
\u201cI have a kid and a kid on the way, and I drive 30 minutes,\u201d Rodriguez said. \u201cYou can\u2019t let it stop you. You might not have a choice, but it does have a significant impact.\u201d<\/p>\n
Experts say the last time gas prices rose this quickly was during the Russian invasion of Ukraine in 2022.<\/p>\n
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