Since Monday, the national average for a gallon of regular unleaded gasoline has increased by four cents to $2.17, which is six cents higher than a week ago, 21 cents more than a month ago and 50 cents less than a year ago. According to AAA in Florida, the average price of a gallon of regular unleaded is currently $2.03.
According to new data from the Energy Information Administration (EIA), gas demand is estimated to have increased significantly from 7.87 million barrels per day to 8.61 million barrels per day last week.
The increase in demand has helped to lift pump prices. If demand continues to trend higher, motorists will likely see pump prices continue to increase through early July.
Although crude prices recently increased in reaction to increasing economic stimulus measures by governments around the world, prices pushed cheaper earlier in the week due to an increase in new coronavirus infections worldwide, which could suppress crude demand.