Florida Gas Prices Higher than One Year Ago
Gas prices have returned and surpassed last year’s totals, according to AAA.
While August has traditionally been a time when gas prices dip, the auto club reported that the increase should continue through the month.
"Last-minute summer travelers will need to increase their transportation budget, since gas prices are forecast to rise throughout the month," AAA spokeswoman Jessica Brady stated in a release. "Motorists have seen gas prices climb since July 1, and are now paying more for a gallon than they did this time last year."
AAA reports that the increase in cost is due to concerns about a supply disruption from threats of violence in the Middle East, with tensions continuing to escalate between Iran, Israel and the U.S., along with a larger-than-expected increase in consumer sentiment reported by the Thomson Reuters/University of Michigan index.
A barrel of oil settled Friday at $96.01 on the New York Mercantile Exchange, up $3.14 from the prior week.
In Florida, that translated into an average gallon of regular gas selling for $3.66, up 2 cents in the past week and 8 cents more than motorists paid on average at the same time in 2011.