Gas prices in the Jacksonville metro area have seen a sharp increase over the past month, with the average price for regular gasoline rising from $2.82 to $3.88.
This represents a roughly 37% increase over the last 30 days.
Filling up a 15-gallon tank will now cost about $16 more than it did four weeks ago, according to the latest numbers from AAA.
Mid-grade, premium, and diesel fuels have also experienced substantial increases, with similar percentage gains over the same period.
Economists attribute much of the bump to ongoing turmoil in the Middle East amid America’s war with Iran.
Geopolitical tensions in key oil-producing countries have sparked concerns about potential disruptions in crude oil supply.
Those jitters tend to drive up global oil prices, which then influence gasoline and diesel prices at the local pump.
Palm Beach County became the first Florida county to hit $4 per gallon on Tuesday, according to AAA.
Analysts warn that fuel costs could continue to hike significantly should combat continue to rage in the Middle East.
“Even though fuel supplies in the United States remain steady and refineries continue to operate, higher crude and gasoline futures are lifting prices at the pump,” said Mark Jenkins, spokesman for AAA.
“Florida drivers may see another round of price hikes in the coming days as stations adjust to rising wholesale costs,” continued. “How high prices ultimately go, will depend on how long this conflict continues and whether there are further effects on global fuel supplies.”
