Drivers are paying more to fill up their gas tanks than they have ever paid at this time of the year, AAA said Tuesday.
And oil and gas prices are expected to move even higher throughout the month.
What’s driving these higher prices? According to AAA, a positive economic outlook, supply issues, refinery maintenance and preparation for the summer fuel switch helped push oil prices closer to $100 a barrel on the New York Mercantile Exchange. As a result, gas prices increases at a faster rate then expected.
“Motorists can expect to see gas prices increase this month,” said Jessica Brady, AAA spokeswoman, The Auto Club Group. “Refineries have started to prepare for maintenance season and the switch from winter to summer grade gasoline. Refinery output has already seen a reduction. In addition, positive economic news has led to an increase in oil prices which also translates to higher prices at the pump.”
A barrel of oil closed Friday at $97.77 on the New York Mercantile Exchange— $1.89 more than the week prior.
Florida’s average of $3.56, 14 cents more than last week.
