Gas prices in Florida are the highest they have been in three years, a new study finds.
AAA released a report on Monday showing gas prices stood, on average, at $2.74 per gallon in Florida, the highest it has been since December 2014 and 11 cents higher than a week ago. That’s right below the national average of $2.76 per gallon, the highest since June 2015.
Mark Jenkins, a spokesman for AAA and the Auto Club Group, said that gas prices are currently high due to the price of oil.
"High oil prices are the main reason gasoline is so expensive right now," Jenkins said. "The price of oil is about 25 percent more than last year, as what used to be a global supply glut, is now tightening. Now the added expense for oil is making it more expensive to produce gasoline. In addition, gasoline demand is strong and inventories are down, as refineries wrap-up their maintenance season and begin pushing out summer-blend gasoline. So there are currently a number of factors keeping upward pressure on gas prices."
Jenkins noted that gas prices could increase in the days to come.
"If we haven't already, gas prices will hit their annual peak within the next couple weeks," Jenkins said. "However, unforeseen circumstances like escalating geopolitical tensions or a hurricane in the Gulf of Mexico would cause prices to surge. Unfortunately, oil prices could still remain elevated heading into the summer travel season. Which means, travelers will likely find the most expensive summer gas prices in four years."
The West Palm Beach-Boca Raton market saw the highest prices in the state with an average of $2.86 per gallon followed by the Crestview-Fort Walton Beach market at $2.81 per gallon and Fort Lauderdale at $2.80 per gallon.
Three cities--Jacksonville, Orlando and Punta Gorda--had the lowest priced gas in the state with all three of the markets seeing an average of $2.69 per gallon on Sunday.
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