Oil prices set new 2022 highs on concerns about a Russian invasion

13 February 2022

Single Gas Price - 3.46.png

 

Florida gas prices declined a penny last week, but strong upward pressure remains on prices at the pump. 

The average price for gasoline set a new 2022 high of $3.47 per gallon on Wednesday. That is the most expensive daily average since July 2014. From there, the state average gradually slipped lower through the weekend. Sunday’s state average was $3.46 per gallon. 

"Pump prices moved slightly lower into the weekend, but don’t be surprised if they increase again in the near future," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Oil prices set new 2022 highs on Friday, amid concerns over how a potential Russian invasion of Ukraine could result in sanctions on Russian oil that could make the oil market even tighter than it currently is."

The U.S. price of oil settled at $93.10 per barrel on Friday. That was almost $1 more than the week before, and the most expensive daily oil price since September 2014. U.S. oil prices have now increased 22%, so far this year. Seven percent of that increase occurred in the past two weeks. So far, Florida pump prices have not responded to that hike, which was the equivalent of about 15 cents per gallon. 

Fuel Price Overview

Gas Prices

  • Sunday’s Florida Avg. - $3.46 per gallon
  • 2022 High - $3.47 per gallon
  • Highest Since - July 2014
  • Avg. Cost for a Fill-Up - $52
  • 2021 High - $3.36 per gallon

Oil Prices

  • 2022 U.S. Oil Price High - $93.10
  • Highest since September 2014
  • 2021 U.S. Oil Price High - $84.65 per barrel

Regional Prices

  • Most expensive metro markets – West Palm Beach-Boca Raton ($3.60), Gainesville ($3.51), Fort Lauderdale ($3.49)
  • Least expensive metro markets – Punta Gorda ($3.40), Panama City ($3.40), Melbourne-Titusville ($3.40)

Ways to Save on Gasoline

  • Combine errands to limit driving time.
  • Shop around for the best gas prices in your community. 
  • Consider paying cash. Some retailers charge extra per gallon for customers who pay with a credit card.
  • Remove excess weight in your vehicle. 
  • Drive conservatively. Aggressive acceleration and speeding reduces fuel economy. 
  • Enroll in savings programs. AAA Members who enroll in Shell’s Fuel Rewards program can save 5 cents per gallon when they fill up at Shell. Click here for more information.

Find Florida Gas Prices

  • Daily gas price averages can be found at Gasprices.aaa.com 
  • State and metro averages can be found here

AAA GAS PRICE AVERAGES
(Price per gallon of regular unleaded gasoline)

Sunday Saturday Week Ago Month Ago One Year Ago Record High
National $3.485 $3.482 $3.439 $3.304 $2.503 $4.11   (7/17/2008)
Florida $3.457 $3.458 $3.467 $3.217 $2.465 $4.08   (7/17/2008)
Georgia $3.335 $3.331 $3.248 $3.115 $2.329 $4.16   (9/15/2008)
Click here to view current gasoline price averages


Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

About AAA - The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.