MIAMI – Florida gas prices jumped 8 cents last week, averaging $4.18 a gallon on Sunday, AAA reported.
That’s $1.40 per gallon more than this time last year. The average cost for a full tank of gas in Florida is currently $63.
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“Florida drivers are finding the most expensive prices at the pump in four weeks,” said Mark Jenkins, spokesman for AAA - The Auto Club Group. “Global supply concerns are keeping upward pressure on oil prices, as many countries look to limit the import of Russian oil. The global crude oil market remains an important issue for motorists, as oil prices account for more than 50% of what drivers pay at the pump. Oil prices have ping ponged dramatically since Russia invaded Ukraine and that volatility is likely to continue through the summer travel season.”
According to AAA, the U.S. price for a barrel of oil jumped 3% last week.
“Friday’s closing settlement of $104.69 per barrel is $2.62 per barrel more than the week before, yet $1.85 per barrel less than two weeks ago,” a news release from AAA stated.
The week of March 11 saw the highest prices for gas this year, with gasoline averaging $4.38 per gallon that week.
The most expensive metro markets for gas in Florida are currently West Palm Beach-Boca Raton ($4.34), Fort Lauderdale ($4.23), and Naples ($4.22).
Visit Gasprices.aaa.com for more information on daily gas price averages.