Iran Tensions Send Florida Gas Prices Soaring Past $5

Florida's statewide average gas price has risen to $4.29 per gallon, the highest since May, due to escalating tensions between the U.S. and Iran that have disrupted oil shipping routes.

The price surge is linked to attacks on shipping routes and oil pipelines in Saudi Arabia, which have blocked most oil tanker ships from navigating the critical Strait of Hormuz.

Some individual gas stations in Florida are already charging over $5 for regular gasoline, with prices reaching as high as $6.19 per gallon at a BP station in DeLand.

The ongoing military conflict shows no signs of ending, and crude oil prices account for more than half of what it costs to produce gasoline and diesel products.