Gas Prices Hit Record High Every Day for Past Two Weeks

Gas prices have soared to new heights this month with the price of unleaded regular gas hitting a record high every day for the past two weeks. With Memorial Day weekend approaching, motorists face steep costs if they plan to travel.

According to AAA, the national average regular unleaded gas price Tuesday came in at $4.60, a record high. Diesel gasoline is at $5.55 per gallon, just below the record set last week.

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Florida Gas Prices Hit New Record

According to AAA-The Auto Club Group, the Florida average price for gasoline reached a new record high of $4.49 per gallon on Sunday.

The latest price beats the previous record of $4.38 per gallon set back in March soon after Russia invaded Ukraine. Before this year, the record high was $4.08 per gallon, which was set back in 2008.

Florida’s average price jumped about 30 cents in the past week. The state average is now $1.60 per gallon more than a year ago. It now costs $67 for a full 15-gallon tank of gas. That’s $24 more than what drivers paid this time last year.

Based on the gasolinemiserindex.com website, Florida consumers are paying $889 more annually on gasoline when compared to spending last year. The is approximately 21% higher than the $735 the average American family is spending this year.

“Drivers are dealing with unprecedented pain at the pump and things could soon get worse before they get better,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “We saw more big gains in the gasoline futures market late last week, which could trickle down to yet another 10-20 cent jump at the pump in the near future.”

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Consumer Prices Rise 8.5 Percent, the Highest in 40 Years

Newly released federal inflation data show that prices continue to rise at the fastest rate in four decades, continuing the trend of soaring inflation.

The Bureau of Labor Statistics released its Consumer Price Index, a key indicator of inflation, which showed prices rose an additional 1.2% in March, part of an 8.5 percent spike in the past 12 months.

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Gas Prices Set to Surge Again, Industry Analysis Shows

The price of gasoline is set to increase to $4 per gallon or more within five months, according to an industry analysis released Tuesday.

The gas price surge is forecasted to take place by Memorial Day in late May, according to the report from GasBuddy, an app that tracks pump prices, and shared with CNN. But the analysis said the average cost of gasoline at pumps nationwide would then fall throughout the summer and fall of 2022, declining below current prices.

“We could see a national average that flirts with, or in a worst-case scenario, potentially exceeds $4 a gallon,” Patrick De Haan, the director of petroleum analysis at GasBuddy, told CNN.

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Oil Prices Hit a Seven-Year High as Industry Feud with Biden Administration Continues

Oil prices hit a 7-year high this week as American oil and gas companies continue to fight the Biden administration over policies restricting production.

As the economy began to reopen this year and the demand for fuel increased, President Joe Biden, through executive order, halted and restricted oil and gas leases on federal lands, stopped construction of the Keystone Pipeline, and redirected U.S. policy to import more oil from Organization of the Petroleum Exporting Countries and Russia (OPEC+) instead of bolstering American oil and gas exploration and production.

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Florida Braces for Booming, Banging Return to July 4th ‘Normal’

fireworks

Independence Day 2020 was a lackluster affair for many, made all the sadder by attempts to celebrate July 4 amid pandemic-induced isolation without the parades, public firework shows and other communal and family gatherings that traditionally accompany the summer holiday.

The city of Miami and others staged “virtual fireworks displays” and at least 60 Florida communities made attempts to stage public events, including socially distanced parades, but with about 80% of traditional observations canceled, July 4, 2020, was nothing to celebrate.

Not so for July 4, 2021.

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