Florida’s gas prices reached their highest points of the year last week before declining again over the weekend.
However, the uncertainty surrounding the price of crude oil globally could push them up more.
What is the price hike?
Over the last week, prices increased by $.13. Although prices decreased by $.06 over the weekend, the pump is still very expensive, according to AAA.
According to motor club leaders, the average cost of gas in Florida is $3.58 per gallon.
According to a spokeswoman, the war between Israel and Iran is the primary cause of the rising costs in the oil market, which is described as “volatile.” Another aspect is the decision by OPEC to prolong its output cuts.
Experts remind us that the price of oil affects almost half of the price of gasoline. Increased production costs for gasoline are a result of rising oil prices. The price of oil was approximately $75 per barrel on average throughout the first quarter of this year.
The average price of a barrel of oil has been close to $84 since mid-March. The state average has mainly stayed over $3.50 per gallon during that same period of time. The average gas price in the state peaked in 2023 at $3.85 per gallon. The price of an oil barrel peaked at about $94 during that period.
How to save fuel?
Combining errands to reduce driving, clearing out extra items from your trunk or car (no, your kids or mother-in-law don’t count), and driving more cautiously by gradually accelerating (instead of “stepping on it”) and coasting up to stop signs, red lights, and other traffic are some simple ways to improve your car’s efficiency and save some gas.