ORLANDO, Fla. (WESH) – Severe winter weather affecting states where oil is produced is forcing a spike in the price being paid at the gas pump.
When Aaron Carr filled up his tank Thursday, he noticed the price had jumped 11 cents in one day.
“Where my gas was $40 a week, it’s jumping to $60 a week now. You know, it just kind of makes it hard to pay bills,” Carr said.
According to AAA, the average price per gallon in metro Orlando Thursday was $2.54, which is up from $2.27 one month ago and $2.31 one year ago.
Analysts say the latest spike is related to the fact that freezing weather and widespread power outages have cut U.S. oil production by 30 percent.
“We in the state of Florida really rely on refineries in Texas, Louisiana, Mississippi to produce our gasoline and if those refineries are not up and running that creates concern in the market so that’s why we’re seeing higher prices at the pump,” AAA spokesman Mark Jenkins said.
Some analysts are saying they think the price of gas could go as high as $3 dollars per gallon.
Jenkins, a gas price expert, does not think gas prices will go that high in Florida.
“There are some states that notoriously have higher gas prices than us so they could be looking at $3 a gallon right now. I don’t think we’ll be looking at $3 a gallon but it really depends on how these refineries recover once the cold weather moves out,” Jenkins said.
If you’re looking to save on gas, Jenkins suggests using some of the apps available to track the lowest price and reducing any unnecessary trips.