Florida Gasoline Prices Surge Amid Middle East Tensions

Gasoline prices in Florida surged 21 cents per gallon last week, peaking at $4.33 on Friday before settling at $4.30 on Sunday. This spike follows a 27% increase in crude oil prices over three weeks, with Tuesday's closing price of $105.83 per barrel marking the highest settlement since May.

AAA – The Auto Club Group attributes the volatility to ongoing tensions in the Middle East and U.S.-Iran escalations, which have created uncertainty regarding global oil supplies. Regional costs within Florida vary significantly, with West Palm Beach-Boca Raton recording the state's highest average at $4.45 per gallon, while Panama City recorded the lowest at $4.04.

Diesel prices also climbed, reaching a record high of $6.49 per gallon in Tampa. Analysts from GasBuddy and AAA note that Houthi attacks and strikes on Russian oil refineries have tightened diesel supplies and placed renewed upward pressure on overall fuel costs.