According to AAA, the national average for a gallon of regular gasoline has reached $4.00 per gallon while Florida’s average is at $3.95. Osceola is a bit lower at $3.93 per gallon of regular unleaded.
New data from the Energy Information Administration is showing total domestic gasoline stocks have decreased by 500,000 barrels of crude oil to 246 million barrels last week. On the other hand, gasoline demand increased slightly from 8.66 million barrels per day to 8.74 million barrels per day.
The increase in gas demand, alongside a reduction in total supply, is contributing to price increases, but increasing oil prices continue to play a leading role in pushing prices higher. Pump prices will likely continue to rise as crude prices continue to climb as the Russian invasion of Ukraine continues on threatening oil production.