TAMPA, Fla. (WFLA) — Florida gas prices are creeping closer to $5 a gallon. The state average jumped 18 cents last week, reaching a new all-time high of $4.76 per gallon on Sunday, according to AAA.
Florida gas prices are now 66% more expensive than a year ago. It now costs $71 to fill an average size 15-gallon tank of gas. That’s nearly $29 more than what drivers paid last year.
“Unfortunately, the pain at the pump is likely to get even worse this week,” said Mark Jenkins, AAA – The Auto Club Group spokesman. “Gasoline made very strong gains in the futures market last week. When that happens, we normally see retail prices rise. It can take days or a week for pump prices to reflect the change, but it wouldn’t be a surprise to see retailers raise their prices another 20 cents by Monday night.”
Crude oil prices rose 3% last week on the futures market. Friday’s settlement of $118.87 per barrel was $3.80/b more than the week before. Gasoline future prices increased 24 cents per gallon from the week before, reaching a new all-time record high. Although OPEC+ announced plans to raise oil production by 648,000 barrels per day.
Ways to Save on Gasoline
- Combine errands to limit driving time.
- Shop around for the best gas prices in your community.
- Pay with cash. Some retailers charge extra per gallon for customers who pay with a credit card.
- Remove excess weight in your vehicle. Every 100 pounds taken out of the vehicle improves fuel economy by 1-2 percent.
- Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.