Gas Prices Continue to Increase – Courtesy: Shutterstock – Image by jittawit21
If you think you paid a bit more for gas over the last week in the Sunshine State, you are right. As Florida gas prices hit another high, AAA predicts that prices will soon reach $5 per gallon.
According to the auto group, Florida’s gasoline prices hit a new high of $4.76 a gallon on Sunday. The average price per gallon was $4.57 a week ago.
Many Central Florida counties are also reporting similar averages, not including Brevard county which is showing a slightly lower average, at $4.74.
“Gasoline made very strong gains in the futures market last week. When that happens, we normally see retail prices rise. It can take days or a week for pump prices to reflect the change, but It wouldn’t be a surprise to see retailers raise their prices another 20 cents by Monday night,” AAA spokesman Mark Jenkins said in a release. “At this rate, it sure seems like there’s very little resistance to rising prices at the pump, and $5 a gallon is quickly becoming a very real possibility this summer.”
According to AAA, the national average has also risen to $4.87 per gallon, up 25 cents from last week.
According to the Associated Press, the OPEC+ group—OPEC countries plus Russia—said on Thursday that they would increase output by 648,000 barrels per day in July and August, providing some relief to a suffering global economy that has been hit by Russia’s invasion of Ukraine.
Gas prices have risen as OPEC has resisted demands from the White House to increase oil production more quickly, and the European Union has agreed to terminate most oil imports from Russia.
Ways to save on gas:
- Shop for the most affordable gas prices in your area.
- Combine errands to limit time spent driving.
- Consider using cash to pay for gas. Some retailers charge extra per gallon for those who pay with a credit card.
- Drive conservatively. Accelerating aggressively and speeding reduces fuel economy.
As the prices continue to set records daily, experts are expecting the trend to continue well into the summer.
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Chris began his writing as a hobby while attending Florida Southern College in Lakeland, Florida. Today he and his wife live in the Orlando area with their three children and dog.