Gas prices nationally and in Florida continue to haunt drivers as the average price of a gallon of gas rose 6 cents hitting a national 7-year-high of $3.38. Florida’s average is at $3.31 and a gallon of gas in Osceola County will cost $3.29 per gallon. The pump price has gone up every day in the past 27 days, adding about 20 cents to the cost of a gallon of gas as we shriek toward Halloween this weekend!
“With the U.S. economy slowly recovering from the depths of the pandemic, demand for gas is robust, but the supply is tight,” said Andrew Gross, AAA spokesperson. “We haven’t seen prices this high since September of 2014.”
The recent rise in the pump price is due to higher demand coupled with a decline in stocks alongside elevated crude prices. Global oil production is still below pre-pandemic levels. Since the cost of oil accounts for more than half of the pump price, consumers will be paying more as long as crude prices remain high.
Today’s national average of $3.38 is 20 cents more than a month ago and $1.22 more than a year ago – and 77 cents more than in 2019.