Florida's gasoline prices have never been higher, and $5 gasoline could be on the horizon.
The average price statewide jumped 18 cents last week to a record $4.76 per gallon on Sunday. Duval County's average price was about a penny less.
Crude oil prices rose $3 again last week, so pump prices are likely to follow within days or a week.
"At this rate, it sure seems like there's very little resistance to rising prices at the pump, and $5 a gallon is quickly becoming a very real possibility this summer," said Mark Jenkins, spokesman for the AAA auto club.
Florida's gas prices are now 66% more expensive than a year ago, AAA says. It now costs $71 to fill an average size 15-gallon tank of gas. That's nearly $29 more than what drivers paid a year ago.
Jacksonville's gas prices averaged $2.80 a year ago. Prices are 14% higher than just a month ago.
AAA says oil and gasoline futures prices are rising in response to global supply concerns sparked by the European Union's Russian oil ban. At the same time, global fuel demand increased after china lifted COVID-19 restrictions in Shanghai.
According to the U.S. Energy Information Administration, crude oil stocks are 15% below a year ago and gasoline stocks are 6% lower. Gasoline exports are up 89% compared to this time last year.
