x
Breaking News
More () »

Florida's average gas price climbs to new yearly high

At $3.20 per gallon, it's something you've probably noticed lately.

ST. PETERSBURG, Fla. — Gas prices this fall have continued their upward march, a trend seen since the springtime and one that has hardly let up.

Experts warn this upward momentum is likely to continue.

The average price for a gallon of unleaded gas in Florida climbed to a new yearly high to $3.20, according to the crowd-sourced GasBuddy.com. In Tampa, the average is a few cents lower at $3.17 per gallon.

Sunday would have been the best day to fill up as prices ticked higher just afterward.

Both GasBuddy and AAA point to one thing driving up the cost of fuel: oil prices. The cost of crude oil averaged in the low $60s per barrel compared to above $80 a barrel now.

Credit: GasBuddy

The combination of tight global oil inventories and increased worldwide demand for oil as COVID-19 cases fall means oil prices may continue climbing, bringing the price of gas along for the ride, GasBuddy said.

"Until several bottlenecks ease, including supply chains and low global inventories of oil, natural gas and coal, we’ll be stuck feeling the pinch of rising oil and gasoline prices," said Patrick De Haan, the head of petroleum analysis for GasBuddy. "The bad news is that for now, all I see is the upward trend at the pump continuing into the weeks ahead with no sign of relief just yet."

AAA spokesperson Andrew Gross reiterates: "...Unfortunately, it doesn’t look like drivers will be finding relief at the pump any time soon."

California leads the way with the highest average gas price at $4.45 per gallon, Hawaii second at $4.13 and Nevada third at $3.90, according to GasBuddy. The state with the lowest average gas price is Arkansas at $2.97.