Florida gasoline prices jumped by 40 cents per gallon over the past week to their highest level in four years, auto club AAA said.
The state average rose from $3.94 per gallon on Monday to $4.34 on Sunday, marking the highest daily price since July 2022, according to AAA.
“Big gains in oil and gasoline futures contributed to the jump at the pump last week,” said Mark Jenkins, spokesman for AAA – The Auto Club Group. “The ongoing Iranian conflict and uncertainty tied to the closure of the Strait of Hormuz is keeping upward pressure on fuel prices with no clear indication of letting up.”
AAA said a 13% increase in crude oil prices and a 46-cent rise in gasoline futures helped drive the latest surge. Additional gains in futures markets last week suggest prices could continue to rise, though less sharply, it added.
Since the start of the Iranian conflict, Florida’s average gasoline price has climbed by $1.46 per gallon, increasing the cost of filling an average-sized tank by about $22, AAA said.
Among metro areas, West Palm Beach-Boca Raton recorded the highest prices at $4.50 per gallon, while Pensacola had the lowest at $3.96.
AAA said motorists can mitigate fuel costs by combining trips, driving conservatively and shopping for lower prices using mobile apps.