Florida gas prices increase for first time in 10 weeks, AAA says
For the first time in 10 weeks, Floridians are seeing an increase in the price of gas at the pump, according to AAA. Officials say the average price for regular unleaded gas in Florida increased seven cents per gallon, reaching $3.61 on Sunday, ending what became a 70-day streak of declines, amounting to a total discount of $1.36 per gallon.
Florida saw a downward spiral in the price of gas at pumps since mid-June when the state average fell from its all-time high of $4.89 per gallon down to $3.53 per gallon last Monday.
"Gas prices are rising in response to a recent oil price hike, due to reports that Saudi Arabia could lower fuel output in effort to raise prices," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "The U.S. price of oil rose a total of 5% over the course of the past three weeks. This is not a significant oil price hike, so gas prices may not go much higher, but that could change if there are additional gains in the fuel market this week. As we move into peak hurricane season, a major storm could contribute to rising prices, if it threatens refineries along the Texas, Louisiana or Mississippi coast lines."
The national average price of gas is $3.85 as of Monday.