Gas Prices In Florida Have Increased At About 90 Cents Since Russia Invaded Ukraine

FLORIDA — Gas prices reached a new Florida record-high average price of $4.37 per gallon on Friday as the Russian invasion of Ukraine continues to disrupt oil markets around the world.

According to AAA, Friday's price smashed the state's previous record-high of $4.08 per gallon in July 2008. This is the first time in 14 years the Sunshine State's average price for gasoline is above $4 a gallon. A slightly lower pump price held Monday for Floridians at the $4.34 average reached on Sunday.

"After seven-consecutive trading days of strong gains, the price of oil finally suffered significant losses Wednesday, when the U.S. price of crude dropped $15 per barrel (12 percent). By week's end, the U.S. price for oil settled 5 percent less than the week before. That translates to a 16-cent swing at the pump. This oil price dip enabled gas prices to drift lower through the weekend," AAA reported.

As of Monday, AAA Gas Prices reported the average cost in Florida of regular gas at $4.34; mid-grade at $4.69; premium at $5.04; and diesel at $5.11. A week ago, regular gas priced at $4.07; mid-grade at $4.29; premium at $4.61; and diesel at $4.58.

One year ago, drivers paid $2.86 for average gas, AAA said.

Since Russia invaded Ukraine, Florida gas prices have increased 87 cents. National gas prices are an average of $4.32 as of Monday showing that Floridians are paying more than the national average. Yesterday's national average showed $4.32; a week ago $4.06; and a year ago $2.85.

There is no way of knowing if Florida is starting to see a continued slope in prices, or prices that resemble a rollercoaster moving up and down.

"The surge in fuel prices was driven by global supply concerns, as sanctions and regulations against Russia has limited the world's 3rd-largest oil producer from moving its oil in the market," Mark Jenkins, AAA spokesperson, said. "After seven-consecutive trading days, that upward momentum finally came to a halt last week. Prices moved lower on reports that the U.S. and other countries were examining ways to increase global fuel supplies. Regardless of this, fuel prices remain extremely volatile right now, so it's hard to know what drivers should expect next month, let alone next week."

Ways to save gas, recommended by AAA, is combining errands in one trip, remove excess weight in your vehicle, go the speed-limit, and use cruise control on the highway.

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