Florida gas prices rose a dime per gallon over the last week; and by a quarter in the last month, AAA reports.
On Sunday, the state average was $3.58 per gallon, a tick below the national average of $3.60. That's tied with the highest price of 2023, which was initially set in late January.
"Last week's jump at the pump was expected, after OPEC announced oil production cuts that immediately caused oil prices to surge," said Mark Jenkins, spokesman, AAA - The Auto Club Group, in a Monday-morning release. "Fortunately, after the initial gains on Monday, the oil market plateaued through the rest of the week. It's possible that retail gas prices could inch up a little more this week before fully adjusting to the moves in the futures market."
Osceola County average prices are right at the state average ($3.58), right in the middle of the state's highest $3.62-3.74) and lowest ($3.36-3.41) metro areas.
AAA said the U.S. price of oil rose 6% on Monday, after OPEC announced plans to cut more than a million barrels of oil per day. In March, oil prices plummeted on the banking crisis and concerns about an economic recession that would reduce fuel demand. OPEC's plans to cut production removes oil from a global market that was already tight on supplies. Their goal is to keep upward pressure on oil prices and that appears to be working.
