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TAMPA, Fla. (WFLA) — As Easter Sunday festivities wind down and travelers make their way back home, gas prices are surging nationwide. In Florida, motorists are seeing an average price of just above $4.20 per gallon at the pump.
Data from AAA reveals this figure represents an increase of nearly a dollar compared to prices from a month prior.
Tampa local Shawn Lopez shared his experience, noting, “Filling up costs between $60 and $70, which is noticeably higher than usual.”
Lopez explained that his gas expenses have risen by $20 to $30, compared to his typical $40 refueling cost. Despite this hike, he acknowledges that these prices are inevitable.
“You have no choice but to pay it,” he remarked.
For daily commuters, the increase is forcing difficult decisions. Tamedra Fuller, who drives 25 to 35 minutes to work five days a week, said she is considering changing her schedule to cut down on trips.
“I’m almost considering going back to 12’s, so I can lessen the days I commute to work,” Fuller said. “It used to cost me about $65 to fill my tank up. I do 89 with a medium-sized sedan, and now I’m up to 80 bucks.”
Experts say the spike is due in part to rising crude oil prices since the start of the war in Iran in late February, along with seasonal demand and uncertainty in oil markets.
“Seasonal demand, we’re about to hit peak summer travel season.” Dr. Abigail Hall, an associate professor of economics at the University of Tampa, explained. “We think about things like other oil producers. So, are they going to increase production? Are governments going to change tax rates on gasoline?”
Hall said the prices are also a culmination of oil producers preparing for potential mishaps.
“What happens if the Strait of Hormuz is shut down, or if it’s not, what does it mean if we have to divert or change routes for delivering our oil?” Hall said. “Also, things like risk premium. What’s the likelihood that my shipment is going to be destroyed by a missile or is going to be intercepted in some other type of way? And all of these things are a component in what we see in pump prices.”
The uncertainty is leaving some Floridians worried about what could come next.
“It’s scary because at this point we have to think about what’s next. Because right now it’s gas. But what’s coming after gas?” said Corey Kelly of Lakeland.
According to the Argus U.S. jet fuel price index reports, prices have increased by 95% since the start of the Iran war, a spike that could lead to higher airline ticket and checked baggage costs for travelers.