Florida gas prices jumped more than a dime last week
TALLAHASSEE - Gas prices, on average, jumped 11 cents in the state last week and are now about 26 cents higher than a month ago after global oil markets were caught by surprise with OPEC+ nations announcing plans to cut production.
While markets have calmed since the OPEC+ announcement, drivers might continue to see rising pump prices because of increased demand with the tighter supply, according to the AAA auto club.
"The oil market has had a few days to digest the OPEC news and speculate about the reason. This has led to the price of oil stabilizing for now," AAA spokesman Andrew Gross said. "But, the cost of oil accounts for more than 50 percent of what we pay at the pump, so drivers may not catch a break at the pump any time soon."
OPEC+ includes the core members of the Organization of the Petroleum Exporting Countries and additional oil-producing countries.
The average price of a gallon of regular unleaded gas in Florida on Monday was $3.58, up from $3.47 a week earlier, according to AAA. The national average price was $3.60. The highest average prices in Florida are in the West Palm Beach, Naples, and Fort Lauderdale regions, while the lowest prices are in the Panhandle.
Florida's average price is 50 cents lower than a year ago.
