Gas prices hit another record high at $4.57 per gallon

The Memorial Day weekend put millions of drivers on the road, and their demand for gasoline helped push fuel prices to another all-time record, hitting $4.57 per gallon in Florida.

AAA — The Auto Club Group reported that harsh reality Tuesday, noting the end to a slight reprieve last week when gas prices declined a bit from the previous record set in mid-May.

Monday’s state average price was $1.71 per gallon higher than last year’s holiday and well above the previous Memorial Day high of $3.93 per gallon set in 2008, AAA noted.

Florida gas prices are now 60% more expensive than what drivers paid this time last year.

And the price may be going up some more, AAA cautioned.

“Gas prices appeared to level out over the weekend, but there’s renewed upward pressure on pump prices after an active week on the oil market both last week and overnight,” said Mark Jenkins, spokesman for AAA — The Auto Club Group, in a news release issued Tuesday morning.

“Tightness in the global fuel market has kept a high floor on fuel prices. The price of oil traded higher overnight after the European Union announced a partial ban on Russian oil imports. The region, which is historically reliant on Russian oil and gas, will now have to find alternative suppliers, in what is already an extremely tight fuel market,” he added. “The longer oil prices remain elevated, the longer American drivers will endure this unprecedented pain at the pump.”

On Friday, the U.S. price of oil closed at $115.07 per barrel. That’s 2% more than the week before, yet 7% lower than this year’s high of $123.70, set back in March. On Tuesday, the national average for a gallon of gas was $4.62.

Florida’s best gas prices were found in the Crestview-Fort Walton Beach market at $4.36; followed by Pensacola at $4.38, Panama City at $4.40; Tallahassee at $4.48; Melbourne-Titusville at $4.54; and Jacksonville, Fort Myers and Port Charlotte at $ 4.55.

Florida’s highest gas prices were found in the West Palm Beach-Boca Raton market at $4.71; followed by Naples and Gainesville at $4.61; Fort Lauderdale and Sarasota at $4.60; Miami, Tampa and St. Petersburg at $4.59; and Orlando at $4.58.