17:00 PM

AAA: Gas Prices Likely to Rise on OPEC+ Production Cuts

Florida gas prices increased 10 cents per gallon last week and additional price hikes are likely to come

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Florida gas prices increased 10 cents per gallon last week and additional price hikes are likely to come, after Saudi Arabia unexpectedly announced plans to cut oil production, causing oil prices to rise overnight.

On Sunday, Saudi Arabia and other OPEC+ countries announced surprise plans to cut oil production by more than a million barrels per day, beginning in May. The cuts are reportedly an effort to prop up oil prices, which recently plummeted to 15-month lows due to fuel demand concerns created by the banking crisis.

Oil prices quickly shot up, following this announcement. The U.S. price of oil traded just above $80 a barrel, Sunday evening. A benchmark that hasn't been breached since early March. That's an increase of nearly $5 or 6.5% more than the closing price on Friday. That price hike alone is equivalent to a 13 cent jump at the pump.

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.64), Naples ($3.54), Port St. Lucie ($3.53)
  • Least expensive metro markets – Crestview-Fort Walton Beach ($3.21), Panama City ($3.23), Pensacola ($3.27)

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.

AAA Resources for Drivers

  • Enroll in savings programs. AAA Members who enroll in Shell's Fuel Rewards program can save 30 cents per gallon on their first fill-up and 5 cents per gallon each additional trip to the pump. Click here for more information.
  • Get a tune-up. Ensure your vehicle is properly maintained to optimize its fuel economy. Visit AAA.com/AutoRepair to find a certified repair shop.
  • Find the lowest gas prices in your area by using the free AAA mobile app.
  • Determine anticipated fuel costs for your trip by using the AAA's Gas Cost Calculator.

Find Florida Gas Prices

(Price per gallon of regular unleaded gasoline)

Sunday Saturday Week Ago Month Ago One Year Ago
National $3.505 $3.504 $3.439 $3.374 $4.200
Florida $3.474 $3.477 $3.374 $3.250 $4.182
Georgia $3.222 $3.225 $3.223 $3.137 $3.880
Click here to view current gasoline price averages

Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

About AAA - The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA's mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.