Gas Prices Expected To Remain On The Rise In Florida

FLORIDA — Florida's gas prices have risen to the most expensive daily average since July 2014, according to AAA.

Sunday's state average of $3.47 is 12 cents higher than a week ago. Prices have gone up about 24 cents in the last two weeks, AAA reported.

"Unfortunately it looks like the pain at the pump may continue to worsen after oil prices saw another strong round of gains last week," Mark Jenkins, AAA spokesman, said. "The upward momentum in crude prices has been driven by geopolitical concerns related to Russia, cold weather and underwhelming global crude output. The price of crude rose $6 last week, which if sustained, could trigger another 10-15 cent hike at the pump in the coming weeks."

On Friday, the U.S. price for crude oil settled above $90 a barrel for the first time since October 2014, Jenkins said.

Friday's settlement of $92.1 per barrel is $5.49/b more than the week before, and $7.66/b more than last year's high.

Since oil is a key ingredient in gasoline, the price of oil influences about half the total price of what drivers pay at the pump. So far this year, the U.S price for crude oil has risen 21 percent. That $16 increase in crude is the equivalent of a 40 cent swing in gasoline prices. Since the beginning of 2022, gas prices have risen 27 cents, which means pump prices may rise another 13 cents before fully adjusting to the latest oil price hike, AAA said.

Jenkins said drivers who want to maximize their money at the pump should consider paying in cash, as some retailers charge extra for credit card users. He also recommended enrolling in a fuel rewards program.

Other Ways To Save Gas, According To AAA

• Slow down. Gas mileage decreases rapidly at speeds above 50 miles per hour.
• Combine errands.
• Make sure your vehicle is properly maintained.
• Remove excess weight from your vehicle.