Tampa Bay drivers are paying more than $4 a gallon for regular gasoline after a 23-cent single-day jump.
Prices jump 23 cents in a single day
AAA reported the Tampa Bay average hit $4.09 per gallon on Wednesday, a 23-cent increase from Tuesday. The statewide average rose 18 cents to $4.07, according to WTSP. The national average stood at $4.22.
Cheapest gas found at three area stations
For drivers hunting a deal, the cheapest gas in the Tampa Bay area as of 11 a.m. Wednesday was $3.57 a gallon at three stations. They are a Mobil on State Road 54 in Lutz, a Shell on East Brandon Boulevard in Brandon and a Sam's Club on West Brandon Boulevard in Brandon. The Mobil and Shell prices are for cash customers. The Sam's Club pump requires a membership.
Middle East conflict drives the price spike
The spike followed attacks on oil facilities and ships in the Middle East that pushed crude oil above $100 a barrel for the first time in roughly six weeks, according to WTSP. The surge is part of a broader run-up tied to the conflict with Iran that began in February.
Prices have climbed steadily for months
Statewide prices have climbed steadily. A week earlier, the statewide average was $3.98. A month ago it was $3.88. A year ago, Florida drivers paid $3.06 a gallon.
Analysts point to oil market pressures
AAA spokesman Mark Jenkins warned during Labor Day weekend that fuel costs were heading higher. Jenkins said oil prices are among the biggest factors moving gas prices. "Oil prices have been really influenced by the situation between the United States and Iran," he told Bay News 9 on Saturday, when the statewide average was $3.92.
Aaron Wood, an associate professor of economics at the University of Tampa, told Tampa Bay 28 on Friday that shipping disruptions near the Strait of Hormuz were keeping oil prices elevated. Wood also cautioned that diesel costs would ripple into consumer goods prices.
Rising fuel costs squeeze local businesses
The higher prices are hitting Lutz businesses. Landscaper Shawn Boyer told Tampa Bay 28 on Friday that he and his brother each spend about $3,000 a month on fuel. Boyer said he had been absorbing the cost rather than raising prices for customers but said he would eventually have no choice.
Florida relies on tankers, not pipelines
Florida has no petroleum refineries and no direct pipeline connections to Gulf Coast refinery networks. Nearly all of the state's gasoline arrives by marine tanker and barge, with Port Tampa Bay handling roughly 43% of the supply, according to Hoodline.
Wednesday's prices remain below the Tampa Bay area's all-time high of $4.91 a gallon, reached in June 2022, according to WTSP. AAA has not published a forecast for when prices might ease.
