Florida gas prices rise 16 cents alongside crude oil costs

After sinking below $3 for the first time since New Year’s Day, Florida gas prices rebounded last week, rising to $3.18 per gallon midway through the week before settling at $3.15 per gallon Monday — 16 cents higher than seven days before.

The cause, according to Mark Jenkins, spokesperson for AAA — The Auto Club Group, is a combination of increased crude oil prices and gasoline futures.

“Despite declining through the weekend, gas prices are facing renewed upward pressure, after crude oil and gasoline futures shot up late last week,” he said in a statement. “This could contribute to higher prices at the pump this week or next. How much higher remains to be seen.”

Week-over-week, the U.S. price of crude oil climbed $4.60 per barrel, settling at $78.01 per barrel on Sunday — the highest daily price point since mid-November.

The 5% crude price uptick over the past two weeks occurred as the ongoing conflict in the Red Sea and refinery issues have persisted. Oil prices rose $2 per barrel last week after a fire at a Russian refinery that reportedly supplies fuel to China, Malaysia, Singapore and Turkey.

Later last week, oil prices again surged upward after Yemeni Houthis shot a British tanker with a missile, setting the vessel on fire in the Gulf of Aden.

Florida motorists can find the cheapest fuel in the Crestview-Fort Walton Beach area, where gas costs $2.89 per gallon on average, followed by Panama City ($2.91) and Pensacola ($2.93).

The metro market with the priciest petrol is the West Palm Beach-Boca Raton area, where drivers and motorcyclists are shelling out an average of $3.34 for a gallon of gas, followed by Naples ($3.22) and Fort Lauderdale ($3.21).

Florida’s $3.15 per gallon average is about 4 cents higher than the national average. The cheapest gas in the U.S. now is in Utah, where residents are paying about $2.64 per gallon to refuel.

The highest pump prices are in Hawaii ($4.67), followed by California ($4.51).