Florida gas prices shot up 10 cents in a week for the costliest fill-up since November 2014, with Palm Beach County’s average leading the state at $2.92 per gallon.
The pump prices reflect a rise in the cost of oil after President Donald Trump pulled out of the Iran nuclear deal and markets anticipated sanctions will limit the amount of Iranian oil in the global supply, analysts said.
That makes the average tank cost about $7 more than it did a year ago in Florida, heading into what is expected to be the busiest Memorial Day driving season in 12 years, according to motorist group AAA. More than 41 million drivers are projected to hit the road during the holiday weekend that kicks off the unofficial start of summer, up 5 percent over last year.
A strong economy has many motorists planning to travel, but drivers increasingly may find budgets pinched for “other expenses like shopping and dining out,” said AAA/The Auto Club Group spokesman Mark Jenkins.
Gas costs nearly 50 cents more per gallon in Florida than it did a year ago.
That’s still well below a high of $4.08 in 2008, but represents a considerable increase over the past 12 months.
Prices can vary more than 40 cents per gallon within the same city, so drivers not blessed with unlimited budgets may find it worthwhile to pay attention.
In West Palm Beach, prices Sunday ranged from $2.72 at Cumberland Farms on Cresthaven Boulevard to $3.19 at Texaco on Palm Beach Lakes Boulevard, according to price-tracker GasBuddy.
In Delray Beach, the spread ran from $2.77 at Murphy USA on Military Trail to $3.24 at Mobil on S. Federal Highway.
In Palm Beach Gardens, prices ranged from $2.75 at Sunoco on PGA Boulevard to $3.19 at Shell on the same road.
In Royal Palm Beach, costs varied from $2.70 at Marathon on Okeechobee Boulevard to $3.09 at Exxon and Chevron stations in the village, according to GasBuddy.