AAA: Crude oil prices up, gas prices to follow

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  • AAA: Crude oil prices up, gas prices to follow
    AAA: Crude oil prices up, gas prices to follow
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After a slight downtick right after the first of the year, Florida gas prices are being pushed higher by the rising price of oil.

The U.S. price for crude oil — a critical piece to the price we pay at the pump — increased 6 percent last week, as global supplies struggle to meet demand, as reported by AAA – The Auto Club Group.

AAA says the average price for gasoline rose 3 cents per gallon last week. The state of Florida average is now $3.22 per gallon, and the Osceola County average is $3.20. The 2021 high was $3.36 per gallon.

"The arrow appears to be pointing up for oil prices, which means gas prices are likely to get more expensive," said AAA spokesperson Mark Jenkins. "The oil market is bullish on global supply concerns as various members of OPEC+ have reportedly struggled to meet production goals."

With Americans leaving quarantine and heading back out of the house, the demand for oil and gas shot up in 2021 — along with oil prices, which went up 78 percent, resulting in gas prices jumping more than a dollar. They stayed strong through the holiday driving periods of Thanksgiving and Christmas, and despite prices falling a bit the last week of 2021 and the first week of 2022, they are strengthening back to where they were before Thanksgiving, per AAA.

"Based on last week's oil price hikes, drivers could soon see another round of rising prices," Jenkins said. "It's unclear how much of an increase to expect, but the last time oil prices were this high, the state average was above $3.30 per gallon."

Here are some tips to save on gasoline costs from AAA:

  • Combine errands on one day to limit driving time.
  • Shop around for the best gas prices in your community. 
  • Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
  • Remove excess weight in your vehicle — check the trunk for items you can remove and stow in your home or garage.
  • Drive conservatively. Aggressive acceleration and speeding reduces fuel economy. Avoid “jackrabbit starts” that rev the engine high.
  • Ensure your vehicle is properly maintained. An engine tune-up, new air filter and proper tire inflation can all help fuel economy. 

Info from AAA used in this report.