Blustery winter weather and geopolitical tensions are helping drive up the price of oil, which is now in the low-$90s per barrel and nearly $30 more than in August.
According to AAA’s weekly report released on Monday, the recent cold weather in the U.S increased the demand for heating oil.
Meanwhile, the concern that Russia will react to potential western sanctions by withholding crude oil from the already tight global market is putting heavy upward pressure on prices. The national average for a gallon of gas has surged to $3.44, eight cents more than a week ago. Gas was last this expensive in 2014.
“This shows how events on the other side of the globe can have a noticeable impact right here in the U.S,” said AAA spokesman Andrew Gross. “And unfortunately for drivers, they are reminded of this by higher prices at the pump.”
For the second straight week, Florida has seen a 12-cent increase per gallon—the third-highest spike in the nation. Florida now has the 15th most expensive average price per gallon in the United States at $3.47.
In Gainesville, the average cost for regular unleaded per gallon is $3.48, which is up from $3.36 last week and $3.20 a month ago, according to the AAA.
Currently, GasBuddy reports found the lowest gas prices per regular gallon in Alachua County is $3.19 at the Pilot on 17276 U.S. Highway 301 in Waldo, while the lowest price in Gainesville is $3.35 at the Texaco at 2109 SW 13th St.
Today’s national average for a gallon of gas is $3.44, which is 14 cents more than a month ago and 98 cents more than a year ago.
The nation’s top 10 largest weekly increases: Michigan (+15 cents), Ohio (+14 cents), Florida (+12 cents), Indiana (+11 cents), Minnesota (+11 cents), Delaware (+11 cents), Maryland (+10 cents), Illinois (+9 cents), Wisconsin (+9 cents) and Kansas (+9 cents).
The nation’s top 10 most expensive markets: California ($4.68), Hawaii ($4.40), Washington ($3.95), Oregon ($3.93), Nevada ($3.86), Alaska ($3.78), Arizona ($3.64), Washington, D.C. ($3.62), Illinois ($3.61) and Pennsylvania ($3.61).