Why are Florida gas prices going up?

Hillsborough County

Florida gas prices nearing highest level in 7 years

(Getty images)

TAMPA (WFLA) – Gas prices in Florida have surged to their highest level in nearly seven years, according to stats provided by AAA and the U.S. Energy Information Administration.

With a 7-cent increase from a week ago, the average cost of a gallon of gas in the state is up to $3.24, the highest it’s been since October 2014, when it was selling for an average of $3.39 per gallon.

One year ago Florida gas prices averaged $2.12. The record high for gas prices was a hefty $4.08 in 2008.

The most expensive markets were West Palm Beach-Boca Raton ($3.39), Fort Lauderdale ($3.28) Port St. Lucie ($3.26), Tallahassee ($3.25). The least expensive were Panama City ($3.06), Punta Gorda ($3.18), Jacksonville ($3.19), Orlando ($3.24), Fort Myers-Cape Coral ($3.24) and Tampa Bay ($3.22).

The current per-gallon price is 15 cents higher than it was a month ago and $1.12 higher than it was one year ago.

Patrick De Haan, who analyzes fuel prices for the website GasBuddy, tweeted that just over 3 percent of US gas stations are now selling over $4.50/gal- nearly 5000 stations.

So why are gas prices going up? Increasing crude oil prices are the primary factor in the higher prices at the pump. Gas costs are continuing to increase even amid economic recoveries, as changes during the ongoing pandemic lead to rising prices for rent, groceries and energy. Wages, meanwhile, remain low.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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