Gas Prices Continue to Rise Across Florida

Gas Prices Continue to Rise Across Florida

Gas Prices Continue to Rise Across Florida

According to AAA, the national average for a gallon of gasoline is $2.81, an increase of 45 cents from a year ago. Month over month, the price is up 15.5 cents a gallon, and it is almost 53 cents a gallon higher year over year.

"The geopolitical tensions prompted by the White House decision to re-impose sanctions on Iran, combined with higher crude oil prices, growing global demand, shrinking supply, and the seasonal switchover to summer blend gasoline are all combining to drive up prices at the pump", said Lloyd Albert, AAA Northeast senior vice president of public and government affairs.

According to GasBuddy, average gasoline prices increased in all 50 states last week as the price of a barrel of oil edged close to $71, the highest since 2014, after the news that the USA would withdraw from the Iran nuclear deal.

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"The highest gas prices since 2014 won't keep travelers home this Memorial Day weekend", Albert said.

Traverse City had the lowest average gas price at $2.85 per gallon, while Ann Arbor's $2.97 was the highest.

That means access to their oil fields is cut off. A week ago, that sat at $2.61.

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"In addition, as money continues to flow into commodities as bets for higher oil prices rise, there's a strong chance of seeing crude oil prices continue to rally in the weeks ahead, with odds of hitting $3 per gallon nationally now better than 65% just in time for the summer driving season", he said.

The cheapest gas in Denver proper was at the Sinclair station at 5100 W. Dartmouth Avenue where it was $2.53 a gallon.

In the Pittsburgh area, the per gallon price remained at $3.07, according to GasBuddy's survey of 731 gas outlets.

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