With average prices at $4.57 a gallon, Floridians were paying the highest prices on record at the pump over the holiday, according to the weekly briefing issued Tuesday by the AAA.
With average prices at $4.57 a gallon, Floridians were paying the highest at the pump over the holiday on record, according to the weekly briefing issued TuesdayThis year’s average price is well above the previous Memorial Day record of $3.98 set in 2008. The average cost to fill a 15-gallon tank is $68.
AAA officials said Friday U.S. crude oil prices closed at $115.07 a barrel. Gasoline is refined from crude oil, making its market price a major factor of cost passed on to motorists. “Tightness in the global fuel market has kept a high floor on fuel prices. The price of oil traded higher overnight after the European Union announced a partial ban on Russian oil imports,” said AAA spokesman Mark Jenkins in his weekly briefing. “The region, which is historically reliant on Russian oil and gas, will now have to find alternative suppliers, in what is already an extremely tight fuel market.
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