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Florida gas prices hit 3-year high

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(Ferre Dollar/CNN)

JACKSONVILLE, Fla. – Florida gas prices have hit a three-year high, according to AAA. An average size tank of gasoline now costs $41 to fill.
 
At $2.74 a gallon, the state average is currently at its highest since December of 2014. According to AAA: 

  • Across the state, the average is $2.74 per gallon, that’s two cents less than the national average
  • Compared to last week, that is an increase of 11 cents in Florida
  • That is the highest daily average in the state since December 2014
  • This time last year, the average cost in Florida was $2.25 per gallon, which averages out to a cost of five dollars more to fill up your tank.

The good news is that gas prices fall below the state average in Jacksonville ($2.69), Punta Gorda ($2.69), and Orlando ($2.69). But that’s about where the good news ends right now.

"High oil prices are the main reason gasoline is so expensive right now. The price of oil is about 25% more than last year, as what used to be a global supply glut, is now tightening. Now the added expense for oil is making it more expensive to produce gasoline. AAA adds that gasoline demand is strong and inventories are down, as refineries wrap-up their maintenance season and begin pushing out summer-blend gasoline. So there are currently a number of factors keeping upward pressure on gas prices.”- Mark Jenkins, spokesman, AAA - The Auto Club Group

AAA is predicting that gas prices will hit their annual peak in the next couple of weeks, meaning that they will likely continue to rise and remain higher than the past few years as we head into the summer travel season.