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Monday, April 23, 2018

Gas prices have hit a three-year high at Florida pumps

Posted By on Mon, Apr 23, 2018 at 3:04 PM

click to enlarge PHOTO BY ANTHONY INSWASTY VIA WIKIMEDIA COMMONS
Florida gas prices hit a three-year high over the weekend, as oil prices are up about 25 percent from a year ago and the global supply glut has tightened, according to AAA auto club.

And while the annual summer peak is still a couple of weeks away, AAA spokesman W.D. Williams said Monday the travel group doesn’t foresee dramatic price increases “at this point.”



The auto group put the state average at $2.74 a gallon of regular gas on Sunday, up 11 cents from a week ago and 28 cents more than a year ago.

“Crude oil prices are higher than they have been,” Williams said. “Plus, fuel companies are switching over to what is called the summer blend of gasoline, which is more expensive to produce. We have several factors in play, so gasoline prices are up a bit.”

Florida is still far below its all-time high of $4.08 per gallon in July 2008.

The rise in gas prices caught the attention of President Donald Trump, who tweeted Friday that OPEC was “artificially” propping up the price.

“Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!” Trump tweeted.

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