By The News Service of Florida
Pump prices in Florida increased 27 cents over the past week and have grown 82 cents since the on-going conflict with Iran began.
The auto club AAA reported the average gallon of gas in Florida at $3.72 on Sunday, from a low of $3.40 in Okaloosa County on the Panhandle to $4.02 in Monroe County, which includes the Florida Keys.
The state average was $2.89 on Feb. 28 when the U.S. and Israel began attacks targeting the Islamic Revolutionary Guard Corps and senior leadership.
“For now, there is no clear ceiling on how high oil prices could go if geopolitical tensions continue escalating,” Patrick De Haan, head of petroleum analysis at GasBuddy, wrote Sunday. “Oil markets are currently pricing in risk, uncertainty, and the possibility of supply disruptions, which could keep volatility extremely high in the days ahead.”
The national average rounded to $3.70 on Sunday and De Haan put a “near term” increase to $3.80 and $4 as the situation escalates around Kharg Island. The island is a core of Iran’s oil economy northwest of the Strait of Hormuz, where 20 percent of global oil for consumption typically travels daily.
Florida’s average is among the top 10 for states. However, the increase over the past week wasn’t among the largest in the nation, with GasBuddy noting that western states have been particularly vulnerable to sharp increases due to higher baseline prices and tighter fuel supply chains.
Diesel prices in Florida were also up 58 cents over the past week, to $5.07, ninth highest among states.
For electric vehicles, the per kilowatt hour cost at charging stations in Florida has held around 41 cents the past week. The price rounded to 39 cents on Feb. 28. Nationally, the average rounds to 42 cents. The average was 39 cents on Feb. 28.
Highest gas ever?
A) 43, start of the Afghanistan War; 2008 Recession
B) 44, still at war; full economic recovery from the 2008 recession
C) 45, over 1M Americans dead from COVID19; collapsed supply chain; PPP fraud
D) 46, global economic recovery from COVID19; withdrew from Afghanistan, or
E) 47, tariffed the world; Epstein Files; war with Iran.
I remember a while back when Regular Unleaded was almost $5 a Gallon, Obama was President. As long as the War stays "Over There", I will not complain.
@Jack Quillman -
Good point! I'm pretty sure that was the message that people were spreading when 932932 MAGA morons put 'I did that!' stickers w/pictures of Biden on them on every gas pump in 2022. Is that what they meant?
One thing is for sure, the people closest in Trump's orbit sure saw it as an investment opportunity! But here's the thing, if it's such a great investment opportunity, why is Trump asking NATO and Asian countries to provide ships to help unblock the Suez Canal? Why not just go out and bleat about how great an opportunity this is for all Americans and let the Iranian's close the canal forever? Think of the investment growth! MAGA!
D.S.P : Some see this as an investing opportunity. Own an Energy mutual fund or understand Futures ? It's ok if you don't.
Why would Biden do this to us?