ORLANDO, Fla. – Gas prices continue to soar and Florida’s average price per gallon is now a penny short of the national average.
Florida gas prices have jumped 7 cents in 24 hours, as of Thursday morning. According to AAA, Florida’s average price per gallon is now $4.71, while the national average is $4.72.
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The average in Florida last week was $4.58 and it was $4.18 just one month ago.
“Yeah, it will probably get up to $4.80 - $4.85 here in the next week or so just based on some of the recent adjustments of gasoline future prices,” said Mark Jenkins, spokesperson for AAA.
Experts say low supply and high demand have been driving the price of gas higher and with summer approaching, the cost to fill up is only going to get more expensive.
GasBuddy analyst Patrick De Haan joined anchor Justin Warmoth on “The Weekly” and said several factors play into gas prices. He said this is a global issue and there is no quick fix. De Haan said prices falling will likely come down to two factors.
“Either the economy slows down significantly, and we see that dirty ‘r’ word ‘recession’ because that will greatly reduce demand most likely or there’s some resolution between Russia and Ukraine,” he said.
“To a degree, inflation can have an effect on raising prices at the pump because it could cost more to transport gasoline from the terminal to the gas station,” said Jenkins.
President Joe Biden is leaning toward visiting Saudi Arabia, which could offer some relief at the pump for U.S. drivers. Biden is expected to travel to Europe at the end of June, where he could potentially make a stop in Saudi Arabia to meet with Prince Mohammed, Saudi King Salman and other leaders, according to the Associated Press.
The president would also likely visit Israel should he extend his upcoming travels to include Saudi Arabia.
Ways to save on gasoline
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle.
- Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.