$5 a gallon ‘very real possibility’ as Florida gas prices break another record

ORLANDO, Fla. – As Florida gas prices reached but another record, AAA says prices may quickly leap nearer to $5 a gallon.

The auto group stated Florida on Sunday reached but another record excessive — $4.76 a gallon. The common one week in the past was $4.57 per gallon.

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“Gasoline made very strong gains in the futures market last week. When that happens, we normally see retail prices rise. It can take days or a week for pump prices to reflect the change, but It wouldn’t be a surprise to see retailers raise their prices another 20 cents by Monday night,” AAA spokesman Mark Jenkins stated in a launch. “At this rate, it sure seems like there’s very little resistance to rising prices at the pump, and $5 a gallon is quickly becoming a very real possibility this summer.”

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The nationwide common additionally rose to $4.87 per gallon, leaping 25 cents in comparison with final week, in keeping with AAA.

The OPEC+ group — OPEC nations plus Russia — introduced on Thursday they’d increase manufacturing by 648,000 barrels per day in July and August, providing some aid for a struggling world economic system that’s been impacted by Russia’s invasion of Ukraine, in keeping with the Associated Press.

OPEC resisting stress from the White House to extend oil provide extra shortly together with a European Union settlement to finish most oil imports from Russia has pushed gas prices larger.

Ways to save lots of on gasoline

• Combine errands to restrict driving time.

• Shop round for the perfect gas prices in your group.

• Consider paying money. Some retailers cost additional per gallon for purchasers who pay with a bank card.

• Remove extra weight in your car.

• Drive conservatively. Aggressive acceleration and rushing reduces gas economic system.