TAMPA (CBSMiami) — Florida gas prices are skyrocketing to the highest levels in a decade. Prices at the pump rose an average of 44 cents per gallon in the last five days, reaching an average price of $3.97 on Sunday.
“Unfortunately, more price hikes are on the way and drivers may soon begin to see record high prices at the pump,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Gas prices are being dragged higher by sky high oil prices, which are surging in response to the conflict between Russia and Ukraine. Sanctions and regulations against Russia has limited its ability to sell its oil on the global market, thus intensifying global supply concerns in what was already a very tight market due to the pandemic.”
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The U.S. price of oil surged 26% last week, rising a little more than $24 per barrel. An increase of that magnitude translates to a 60 cent increase at the pump. So far, the state average has increased 44 cents since last week, which means another 10-15 cent hike is possible. If that happens, the state average would eventually surpass the previous all-time high, moving toward around $4.12 per gallon. The current record high price for regular unleaded gasoline in Florida is $4.08 per gallon, which was set on July 16, 2008.
- On Sunday, the national average price for gasoline reached $4 a gallon for the first time since July 2008.
- When the state average exceeds $3.97 per gallon, Florida gas prices will officially be the most expensive in 14 years (July 2008).
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Fuel Price Overview
- Sunday’s Florida Avg. – $3.96 per gallon
- Highest Since – April 2012
- Avg. Cost for a Fill-Up – $59 ($41 last year)
- 2021 High – $3.36 per gallon
- 2022 U.S. Oil Price High – $115.68 per barrel (Friday)
- 2021 U.S. Oil Price High – $84.65 per barrel
Regional Prices
- Most expensive metro markets – West Palm Beach-Boca Raton ($4.06), Gainesville ($4.00), Pensacola ($3.98)
- Least expensive metro markets – Sebring ($3.91), Lakeland-Winter Haven ($3.92), Tampa-St. Petersburg-Clearwater ($3.93)
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Fuel Savings Tips
- Maintain your vehicle to optimize fuel economy.
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle.
- Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
