Gas prices in Florida rise by .06 cents amid tensions in Middle East
MIAMI -- Despite a drop in demand and a downturn in prices over the weekend, gas prices in Florida were up 6 cents a gallon over the past week as Middle East tensions affect speculation on global oil futures.
The auto club AAA put an average gallon of gas in Florida at $3.28 on Monday.
"The oil market is very sensitive to global events, and fears of a widening war in the Middle East is keeping oil prices elevated for now," said AAA spokesperson Andrew Gross. "Domestically, drivers will likely see pump prices keep up this slow slide toward the holidays."
With prices per gallon hovering over the $3 mark, the lowest averages in the state continue to be found at the western end of the Florida Panhandle, while areas around Orlando and the Florida Keys were averaging around $3.25 per gallon.
Topped by Franklin County at $3.67 a gallon, counties east and west of Tallahassee showed the highest averages.
Also, areas around West Palm Beach were just under $3.50 a gallon.
Most of Florida's increase last week was due to a spike in prices that had the average at $3.32 on Wednesday, which AAA attributed to a rise in crude oil prices that occurred two weeks ago.
The national average on Sunday was $3.50 a gallon, down 5 cents in the past week.
The national average is down 34 cents from a month ago and 27 cents from the same point in 2022.
Demand nationally has dropped about 9 percent over the past week while domestic stocks of gas have slightly increased, according to data from the Energy Information Administration.
However, trading on oil prices continues to see a slight rise in prices, topping $85 a barrel amid concerns regarding the Israel-Hamas war. The average pump price in Florida is down 1 cent from the same period in 2022. A month ago, the price was 32 cents higher.
