Florida gas prices return to highest price in five weeks

Sunday’s state average was $4.20 per gallon

Money Matters: Summer gas prices & Google information protection

JACKSONVILLE, Fla.Florida gas prices rebounded over the weekend, returning to the highest price in five weeks. Sunday’s state average was $4.20 per gallon, an increase of 2 cents from a week ago.

“There were some noteworthy gains in both oil and gasoline futures last week, which may result in additional increases at the pump this week,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “Oil prices rose last week after the European Union announced plans to phase out imports of Russian oil by the end of the year. And yet, the oil price gains paled in comparison to what happened with gasoline. Gasoline futures soared to a new record high last week. The increase is attributed to a combination of factors, including steady weekly declines in gasoline supplies and expectations that summer fuel demand will far outpace what we saw last year.”

Sunday’s state average of $4.20 per gallon is 2 cents more than last week, 10 cents more than a month ago, and $1.32 per gallon more than this time last year. On average, drivers are paying $63 to fill an average-sized tank of gas. That’s $20 more than this time last year.

Gas price overview:

Sunday’s Avg. Price - $4.20 per gallon

Cost for a Full Tank -  $63 (15 gallon tank)

2022 High - $4.38/g (Mar. 11, 2022)

2021 High - $3.36/g (Nov. 2021)

Record High - $4.38/g (Mar. 2022)

Oil price overview:

Friday’s U.S. Oil Price - $109.77 per barrel

Previous Week’s Closing Price - $104.69/b

2022 High - $123.70/b (Mar. 8, 2022)

2021 High - $84.65/b (Oct. 2021)

Record High - $145.29/b (July 2008)

About the Author:

Carianne Luter is a social media producer for News4Jax and has worked at Channel 4 since December 2015. She graduated from the University of North Florida with a communication degree.