Florida gas prices have reached a new record-high last Friday of $4.38 for a gallon of regular unleaded. That smashed the previous record of $4.08 set 14 years ago in July 2008.
Over the past few weeks the price per gallon has risen by 90-cents. It now costs about $65-dollars on average to fill a 15 gallon tank. That's $23 more than this time last year.
"The surge in fuel prices was driven by global supply concerns, as sanctions and regulations against Russia has limited the world's 3rd-largest oil producer from moving its oil in the market," said AAA spokesman Mark Jenkins.
Since the invasion began crude prices have surged $32 reaching a high early last week of $123.70. However the cost of U.S. crude eased last week falling by $15 a barrel. That led to some easing at the pump over the weekend. As of Monday the average was 4-cents lower than the record down at $4.34.
"After 7-consecutive trading days, that upward momentum finally came to a halt last week,” said Jenkins. “Prices moved lower on reports that the U.S. and other countries were examining ways to increase global fuel supplies.”
However Jenkins warns that fuel prices remain “extremely volatile” and it's hard to say where prices will be “next month, let alone next week."
Visit gasprices.aaa.com to view daily gas price averages
Florida Gas Prices are:
• $4.35 per gallon (Sunday)
• Up 87 cents since Russia invaded Ukraine
• Up $1.16 per gallon since January 1, 2022
• Up $2.16 per gallon since January 1, 2021
Since Russia Invaded Ukraine:
• The U.S. price for crude oil surged $32 per barrel (35%) reaching a daily high of $123.70/b on Tuesday.
• Florida's state average rose 90 cents per gallon, reaching $4.38 per gallon on Friday.
• The price for an average 15-gallon tank of gas increased to nearly $66; $23 more than a year ago.
Regional Florida Prices
• Most expensive metro markets – West Palm Beach-Boca Raton ($4.46), Fort Lauderdale ($4.40), Ocala ($4.38)
• Least expensive metro markets – Panama City ($4.20), Crestview-Fort Walton Beach ($4.20), Pensacola ($4.24)
Ways to Save at the Pump
• Shop around using the AAA Mobile App to find the best gas price in your area – Android I iPhone.
• Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
• Participate in Fuel Rewards or cash back programs that offset the high price at the pump.
• Don't buy high-octane gasoline if you don't need it. Premium gas should only be used in vehicles that recommend or require it. Pumping premium gas into a vehicle that calls for regular is a waste of money and is of no benefit to the vehicle.
Making Your Gas Go the Extra Mile
• Keep your vehicle in tip top shape. Oil changes, air filters and tire inflation all impact fuel economy.
• Use AAA's Gas Cost Calculator to estimate how much you will spend on gasoline during your next road trip.
• Plan your route in advance to avoid unnecessary detours and turnarounds. Avoid peak traffic times.
• Combine errands. Fuel economy is better when your engine is warmed up.
• Drive sensibly. Aggressive acceleration and braking reduces gas mileage 15-30% at highway speeds and 10%-40% in stop-and-go traffic.
• Slow down. Fuel economy peaks at around 50 mph on most cars, then drops off as speeds increase. Reducing highway speeds by 5 to 10 mph can improve fuel economy by as much as 14%.
• Remove excess weight in your vehicle. An extra 100 pounds can reduce MPG by 1%.
• Reduce idling. An idling car engine consumes one quarter to one-half gallon of fuel per hour. A warm engine only takes around 10 seconds worth of fuel to restart. Where safe to do so, shut off your engine if you will be stopped for more than a minute.
• Use cruise control on the highway to maintain a constant speed. Do NOT use cruise control on wet roads.
Find Florida Gas Prices
• Daily gas price averages can be found at Gasprices.aaa.com
• State and metro averages can be found here