The average price of gasoline in Florida has once again surpassed the four-dollar mark per gallon, standing at $4.14 on Sunday, according to the weekly report from AAA published this Monday, and experts warn that the figure could continue to rise.
The increase amounts to 23 cents more than a week ago, 19 cents above the previous month, and $1.18 more than a year ago, a difference that reflects the accumulated impact of escalating tensions in the Middle East on the energy market.
Mark Jenkins, spokesperson for AAA - The Auto Club Group, noted in statements cited by El Nuevo Herald that tensions in that region intensified last week, leading to a sharp increase in crude oil prices, which directly affected gas stations.
"Drivers in Florida are now seeing those higher costs reflected at gas stations. If oil prices remain high, motorists could face additional upward pressure on gasoline prices this week," Jenkins warned.
The spokesperson specified that "the state average could reach up to $4.19 per gallon if oil prices remain high."
The factor behind the increase in prices is the armed conflict between the United States and Iran over the strategically vital Strait of Hormuz, through which approximately 20% of the world's oil and liquefied natural gas flows.
Since early September, there have been reports of attacks on oil tankers in the area, and the United States has begun escorting 40 commercial ships carrying 18 million barrels of crude oil in an unprecedented operation during wartime.
As a direct consequence, the price of crude oil in the United States increased by almost 20% in the last two weeks, rising from $83 per barrel to over $100.
The AAA reminds us that crude oil accounts for more than half of the price consumers pay for gasoline, which explains the rapid transmission of shocks in the crude market to the pump.
The rise this Monday is also part of a cyclical pattern typical of Florida: according to the AAA report, "prices at the stations tend to spike at the beginning of the week and then gradually decline over the rest of the week and the weekend."
Before the recent geopolitical escalation, that cycle had prices reaching a peak of around $3.99 per gallon. With crude oil trading above $100, that limit has risen, and the state average has settled above four dollars.
The disparity between areas of the state is notable. The most expensive metropolitan markets are West Palm Beach-Boca Raton, at $4.30 per gallon, followed by Gainesville ($4.21) and Naples ($4.19). On the opposite end, Panama City and Pensacola offer the cheapest fuel, at $3.97 per gallon, alongside Crestview-Fort Walton Beach, at $3.98.
This spike occurs weeks after gasoline reached a record price in the United States during the Labor Day weekend, when the national average hit $4.14 per gallon, surpassing the previous record for that holiday of $3.82, set in 2012.
The evolution of prices in the coming days will largely depend on the oil market: new increases in crude oil could lead to additional hikes at the gas stations, while a decrease could relieve pressure on drivers in Florida.
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