Florida Gas Prices Soar Above $4 a Gallon Amid Middle East Tensions
Florida's gas prices have surpassed $4 per gallon for the first time since June 1, according to Mark Jenkins of AAA - The Auto Club Group. Rising tensions in the Middle East are driving up oil prices, which account for over half the cost of gasoline.
The U.S. price for crude oil has increased nearly 20% over the past two weeks, climbing from $83 per barrel to more than $100 per barrel.
Florida's state average could climb as high as $4.19 per gallon if oil prices remain elevated, Jenkins said.