17:00 PM

Gas Prices Up 2 Cents on Oil Price Hikes

The U.S. price for crude increased 6% last week, as global supplies struggle to meet demand

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Florida gas prices are being dragged higher by the rising price of oil. The U.S. price for crude increased 6% last week, as global supplies struggle to meet demand.

The average price for gasoline rose 3 cents per gallon, last week. The state average is now $3.22 per gallon, which remains 14 cents less than the 2021 high of $3.36 per gallon.

"The arrow appears to be pointing up for oil prices, which means gas prices are likely to get more expensive," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The oil market is bullish on global supply concerns as various members of OPEC+ have reportedly struggled to meet production goals."

Crude oil prices are critical to what drivers pay at the pump. About half of the price of gasoline is based on the price of oil; that's because oil is a key ingredient in gasoline.

In 2021, oil prices rose as much as 78%, leading to a total increase of $1.17 per gallon at the pump. Although oil prices cooled off toward the end of 2021, they have opened the year strong, shooting right back up to where they were before Thanksgiving.

So far this year, the U.S. price for crude has increased 10% - going from $76.08 per barrel, back up to Friday's settlement of $83.82.

"Based on last week's oil price hikes, drivers could soon see another round of rising prices," Jenkins continued. "It's unclear how much of an increase to expect, but the last time oil prices were this high, the state average was above $3.30 per gallon."

State Average Prices

  • Monday's Average Price - $3.22 per gallon
  • 2022 High - $3.22 per gallon
  • 2022 Low - $3.19 per gallon
  • 2021 High - $3.36 in November 2021
  • 2021 Low - $2.19 in January 2021

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.41), Naples ($3.29), Fort Lauderdale ($3.27)
  • Least expensive metro markets – Crestview-Fort Walton Beach ($3.10), Pensacola ($3.11), Panama City ($3.14)

Ways to Save on Gasoline

  • Combine errands to limit driving time.
  • Shop around for the best gas prices in your community.
  • Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
  • Remove excess weight in your vehicle.
  • Drive conservatively. Aggressive acceleration and speeding reduces fuel economy.
  • Ensure your vehicle is properly maintained. An engine tune-up, new air filter and proper tire inflation can all help fuel economy. Visit AAA.com/AutoRepair to find a AAA Approved Auto Repair facility near you.
  • Enroll in savings programs. AAA Members who enroll in Shell's Fuel Rewards program can save 5 cents per gallon when they fill up at Shell. Click here for more information.

Find Florida Gas Prices

(Price per gallon of regular unleaded gasoline)

Monday Tuesday Week Ago Month Ago One Year Ago Record High
National $3.310 $3.307 $3.304 $3.312 $2.385 $4.11 (7/17/2008)
Florida $3.220 $3.222 $3.194 $3.238 $2.306 $4.08 (7/17/2008)
Georgia $3.113 $3.111 $3.116 $3.135 $2.235 $4.16 (9/15/2008)
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 14 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.