Gas prices in Florida are quickly on their way to hitting $3 per gallon. What’s the deal?

 According to AAA, Florida gas prices are the most expensive they have been since June 2018, and they could continue to climb. Since the beginning of 2021, Florida gas prices have surged an average of 67 centers per gallon.

The price of crude oil has increased nearly 40 percent since Jan. 1, which is the main cause for the significant rise in gas prices. 

There are also other reasons for the increase in Florida gas prices. AAA explains that the driving forces are:

– Tightening global crude oil supplies

– Lower gasoline supplies

– Rising gasoline demand

– Summer gasoline moving into the market

COVID-19 has also had a major impact on the rise of gas prices.

“Although gas prices normally increase in the spring, the price hike is especially pronounced this year, as global crude supplies tighten and domestic refinery issues lead to reduced gasoline supplies. Unfortunately, the pain at the pump may get a little worse before it gets better. Gasoline futures and wholesale prices rose another 10 cents late last week. The increase is said to be based on optimism that gasoline demand will continue to grow. It’s possible that increase could cause gas prices to rise again this week, dragging the state average even closer to $3 a gallon” Mark Jenkins, AAA – spokesman stated in AAA Newsroom.

The most expensive gas prices in Florida right now are in West Palm Beach-Boca Raton at an average of $2.97 per gallon. Jacksonville is currently at an average of $2.808 per gallon.

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